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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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Demand nearly four times the deal size allowed pricing to tighten sharply -
◆ French issuer picks size over price ◆ ‘Three handle’ important to secure investor interest ◆ Danske readies fixed and floating rate notes
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Insurer sets new tights for primary printing ◆ NIP opinions diverge on 10 year ◆ Sondrio pushes through fair value thanks to vanilla deal wrapped in green
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◆ 12bp move from IPTs ‘remarkable’ ◆ €1bn print lands flat to inside fair value ◆ Iccrea to follow with 10 year OBG
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◆ Greeniums on show in tier two euro deals ◆ Rarity and green elements generate negative NIP ◆ Aussie issuer follows major peers’ return to euros
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BBK, NBK and GIB mandate benchmark dollar deals
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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