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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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◆ Rival bankers ‘surprised’ at starting level ◆ Speculation about ‘low-quality accounts’ in order book ◆ Timing ‘wasn’t the best’ -
The winning deals, banks, issuers and other market participants will be revealed at a gala dinner in Porto on September 12
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◆ UK insurer chooses dollar market for double refi ◆ Will buy back RT1 and tier two but prioritise the former ◆ Recent issuance suggests price advantage in dollars over sterling
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◆ Coventry Building Society orders reached £4bn ◆ Banco Santander finds price sensitive investors ◆ New issue premiums vary
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◆ Bank sells its first public sector covered since July ◆ Deal lands flat to fair value ◆ Crédit Agricole diversifies away from the short end
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The Japanese carmaker and the Canadian bank were among five issuers to tap the market on Monday
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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