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Primary action in the US and several banks reporting points to a rebound of euro issuance this week
◆ Italian bank placed bond after tightening 7bp ◆ Banker said paucity of Italian covereds helped ◆ Covered market has slowed despite strong performance
◆ German bank pays small new issue premium ◆ Issuer could have tightened further, banker says ◆ Deal latest in raft of public sector covereds this year
Data
Market participants debate 300bp 'soft barrier' for AT1 resets as banks probe ever-improving cost of capital
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
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Bankers reveal final pricing expectation ◆ UK lender plans first euro deal since 2019 ◆ Issuer happy to take time for extra investor work -
◆ France's snap election 'a big surprise' for markets say FIG bankers ◆ French senior non-preferred bonds underperform ◆ Issuers taking a 'wait-and-see' approach
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◆ Aussie bank starts one week in-person roadshow ◆ Long five year deal to diversify euro funding ◆ Bank considered waiting until after the summer
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MD had been with the bank over 15 years
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The Polish bank is one of the highest rated of Central and Eastern Europe's bank issuers
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◆ Management of the company, combing My Money Bank and previous HSBC France's retail business, talks to GlobalCapital ◆ Deal optimises capital and aims to keep investors close for future tier two issuance ◆ Covered bonds most likely in future primary appearance
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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