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◆ HSBC markets new dollar AT1 less than two months after raising $2.5bn ◆ Belfius Bank seen as candidate for further AT1 issuance ◆ Belgian lender is touring Europe to presents its 2026-2030 plan
◆ No attrition on insurance arm's €500m no-grow 2036 deal ◆ Ample demand from buy-and-hold accounts ◆ 'So much cash available' despite US-Iran peace deal failure
Books were more than five times the deal size, which was capped
Data
Funding across all parts of the capital structure is available with issuers likely to prioritise unsecured borrowing
With masses to fund and spreads super-tight, banks will race to market, but central banks are expected to tighten
Banks could rush to issue as fast as possible, taking advantage of remarkably tight spreads
Growing pipeline and fiercer competition had threatened to shake the darling bonds of May
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◆ Issuer’s first deal since 2018 almost three times covered ◆ Up to 1bp of concession needed to seal market return ◆ OCBC priced inside Standard Chartered's debut -
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◆ Slim premium paid on chunky sale ◆ Investors welcome Canada pick-up to UK names ◆ Canadians missing from covered bonds
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◆ Low beta issuers 'more challenging to sell' ◆ Investors turn cautious on FRNs ◆ New issue premiums 'will come back'
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◆ FIG pipeline fills with subordinated euro deals ahead of Thursday's ECB meeting ◆ Rebranded My Money Group lines up sub-benchmark AT1 ◆ Alpha Bank and Athora prepare tier twos and tenders
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◆ 12 year deal to be Achmea's longest since 2021 ◆ Rabobank's recent 12 year provides closest comparable
Polls and awards
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
Don't miss your chance to choose this year's Bond Award winners
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
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