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◆ New deal to replace AT1 from October 2020 ◆ Resistance to tight pricing building ◆ Market watches the 300bp euro reset barrier
Market participants debate 300bp 'soft barrier' for AT1 resets as banks probe ever-improving cost of capital
◆ Market conditions made going ahead an "easy decision" ◆ Two-year FRN priced flat to fair value ◆ Floaters' secondary liquidity debated
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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Dual tranche deal set to be German lender's last ahead of its integration with LBBW -
Goldman Sachs took advantage of strong demand before passing the issuance baton to foreign banks and domestic borrowers
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◆ Danish lender prints €750m for the first time ◆ Backed by its largest real money participation, the deal achieves Jyske's largest book
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Greater stability in credit products than rates points to what unnerves investors
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FCA and PRA dance to Treasury's pro-growth tune
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French rates risk appetite returns but OAT spreads still a hurdle for covered issuers
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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