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'Great' market conditions are not immune to central bank surprises and fund inflow changes
◆ Second Friday print in two weeks ◆ Dynamics suggest repricing is almost completed ◆ No premium paid to recent UK building society prints
Demand supported by resurgent asset manager bid
Foreign investors show confidence in French assets, including innovative defence financing deal, as political concerns grow
Allianz's early dollar tier one foray paves the way for tight pricing
Issuers shift the primary market equilibrium in their favour but questions raised whether it can last
Senior funding there for the taking, covered bonds yet to take off — but conditions are great for all
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◆ UK lender builds demand across two legs ◆ Equivalence 'noise' no problem ◆ Canadian paper provides the closest, most recent comparables -
◆ German issuer lands €1bn at tightest spread... ◆ ...but still pays a premium ◆ Shorter Pfandbriefe less popular with issuers this year
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Department store's JV with Santander comes just as Santander is marketing a deal
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Book shrank by $700m after the issuer squeezed spread
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◆ Nordea outmanoeuvres spread widening by waiting to print in euros ◆ It and Crelan's SNP deals attract close to €6bn of orders ◆ 'Right to pay' some concession
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◆ First euro AT1 since end of June follows dollar trades ◆ Lower tier issuer no hindrance to demand ◆ Spanish bank achieves its biggest AT1 at almost no premium
Polls and awards
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
The awards recognise the market's leading deals, issuers, banks and other participants
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