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◆ More than €20bn of orders at peak ◆ Up to 10bp of concession on each tranche, says rival banker ◆ May push European banks to pay more to get deals done
◆ Macquarie tightened by 6bp to 27bp over ◆ Banker said this represented ‘small new issue premium’◆ Bankers said investor demand for covereds is cooling
Seniors only from BPCE, but BBVA puts full capital stack on offer
Data
Favourable market conditions have made raising debt like 'fishing with dynamite' for bank issuers. But concerns are mounting about volatility ahead
French bank scoops top spot overall, while BNP Paribas leads in senior and Crédit Agricole in capital
Late-week surge shows investors remain hungry for paper despite macro volatility
Classic January new issue volumes as barely there premiums come into vogue but US banks threaten to crowd out Europeans
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Improved all-in funding conditions lure a host of European banks to the US as Citi emerges with jumbo opco trade -
Diverse range of deals shows investors remain eager to play as diversification considerations intensify
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US covered bonds could fill the triple-A rated void left by the sovereign's downgrade
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◆ Small benchmarks hit screens ◆ Demand solid but muted ◆ Market prepared for cooling off period after rampant few weeks
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◆ PBB opts for four year deal ◆ Marginal drops as German issuer tightens spread ◆ Investors appreciate the room for performance
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◆ Fair value debated ◆ Some question RV attractiveness to global investors ◆ Dollars main funding market ‘for now’
Polls and awards
The covered bond market gathered in Seville to celebrate its standout deals, institutions and individuals
Last chance to vote for the best winning deals, individuals and organisations in the covered bond market
The leading banks, issuers, individuals and other market players were named at GlobalCapital's flagship industry dinner in London
The winning deals and organisations will be revealed at our gala dinner in Seville on September 18
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