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◆ Swedish bank tightened spread by 28bp ◆ LF Bank opted for the €500m no-grow format ◆ Bonds offered 2bp of new issue premium, an expert said
◆ Greek bank tightened spread by 25bp ◆ One of two green bonds sold on Tuesday ◆ Green label creates 'stickier' order book, says banker
◆ French issuer tightens spread by 6bp ◆ Order book closes at €2.5bn peak ◆ Only covered bond issued on Tuesday
Data
Banks could rush to issue as fast as possible, taking advantage of remarkably tight spreads
Growing pipeline and fiercer competition had threatened to shake the darling bonds of May
Uncertainty in Middle East peace negotiations may reignite alarm, but investors remain willing as long as issuers pay to play
Tweaks to trading book rules will be next stage of competition
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◆ Austria bank compresses funding cost as investors remain avid buyers of tier two bonds ◆ Product described as 'most attractive' within the FIG capital structure ◆ Deal lands with negligible premium, if any -
◆ Deal appears tight compared to recent supply ◆ 'Decent' pick up paid over SSAs ◆ Slim premium offered over Nordic peers
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Swedish specialist lender is transferring risk from its consumer loans portfolio
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◆ Senior non-preferred green deal brings back larger funding in a single, longer maturity ◆ Small concession paid ◆ Senior preferred Kangaroo in belly of curve to follow
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◆ Issuer takes advantage of capped size ◆ Rarity element provides tailwind for tight pricing ◆ Others take different markets as Nordea stays local for AT1 and Allianz eyes dollars for RT1
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Sustainable finance chief among those affected
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