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Market participants debate 300bp 'soft barrier' for AT1 resets as banks probe ever-improving cost of capital
◆ French bank has had a busy 2026, issuing across currencies and asset classes◆ Cross-currency rates at 'optimal level' for diversification play, lead manager said ◆ Fair value debated
Market enters third chapter of 2026, in which issuers and investors strike a more equal balance even though issuers may need to pay up
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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The investment bank compensation process is as much ritual as reckoning — a yearly exercise in hope, dread, and, for some, quiet fury. But while everyone’s sweats over their number, few stop to ask how it’s calculated. Here’s a blow-by-blow breakdown of what really happens behind closed doors -
◆ 'A nice spread' ◆ Upgrade potential ◆ BAWAG opts for sub-benchmark tier two
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◆ Danish bank finds demand with Friday print ◆ Shorter tenor appeals to investors ◆ Deal lands close to fair value
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Swiss franc bond market records busiest January since 2011
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Come February unsecured volumes may surprise amid subdued risks, but tight pricings pose a challenge
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US money center bank's perp propels systemically important firms' January issuance to near-$49bn monthly record
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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