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Senior, capital issuance expected on Tuesday, after impact of historic precious metals sell-off is assessed
◆ Canadian banks ramp up European senior and covered funding ◆ BMO restarts this year's unsecured sterling issuance from the sector ◆ Deal provides more favourable funding than euros
◆ €500m no grow tightened by 7bp ◆ 18bp reoffer was at FV, says lead ◆ Order book held up well through execution
Data
French bank scoops top spot overall, while BNP Paribas leads in senior and Crédit Agricole in capital
Strong demand and tight spreads has propelled volumes past January records
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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◆ New York Life and MetLife hit sterling market ahead of dollar funding ◆ Both sterling deals fare better than simultaneous bank duo ◆ More FABNs likely to follow -
◆ First senior preferred trade in a month ◆ Santander extends its SP curve ◆ Slim premium on both tranches
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◆ Orders pour in, crushing new issue premium ◆ Pricing well through French sovereign ◆ Market warming to longer-dated paper
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◆ Irish lender enjoys strong investor response for rare deal ◆ Pricing through fair value thanks to low supply ◆ UBS seen attracting ample interest for cost-effective dollar AT1
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In the league table game, it’s where you finish that’s most important but making the best start is almost as critical
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French bank scoops top spots in 2025 senior and subordinated dealer rankings
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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