Top section
Top section
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
More articles/Bond Comments/Ad
More articles/Bond Comments/Ad
More articles
-
◆ Reverse Yankee FIG issuance 17 times greater than 2024 ◆ US banks benefit from cross-currency basis ◆ Bankers discuss Reverse Yankee pipeline -
◆ Tightest non-preferred pricing since 2020 ◆ Spread nears Bankinter's previous preferred debt sales ◆ Supportive market even at tight valuations ◆ Light secondary performance down to limited premium
-
◆ German lender enjoys window alone ◆ Eye-catching spread attracts bumper book ◆ Deal lands close to fair value
-
The issuer’s previous tier twos trade at unusually low yield but new bond looks tight versus larger peer and sovereign
-
Former investment banker will leave later this year
-
In Switzerland, CGS sells R&S block
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
Sub-sections
Comment