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◆ Tightest callable Italian tier two since 2020 ◆ UniCredit year-on-year spreads continue to tighten ◆ 80% of allocations made to 'solid real money' accounts
◆ 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
◆ Largest Czech bank tightened spread by 8bp ◆ Subsidiary of Erste Group announced mandate on Monday ◆ 'Arithmetically, there is no FV', a banker said
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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◆ Five year trade among the tightest this year ◆ Small single digit premium needed to seal the deal ◆ Investors came in after pricing despite the tight spread -
Fair value is about 180bp over mid-swaps says a banker on the trade
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When it comes to monitoring comms, surely what’s good for the banking goose is good for the governmental gander
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◆ Danish bank dodges rates volatility and price sensitivity to print with large book ◆ London-based accounts show big interest ◆ Funding ahead to take advantage of favourable market
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◆ Which banks sell in run-up to rate cuts ◆ South Africa election and the bond market ◆ Saudi Arabia leaves peers behind
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Uncertainty over interest rate cuts creating big market swings means this year's phenomenal primary market for credit will deteriorate
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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