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French bank scoops top spot overall, while BNP Paribas leads in senior and Crédit Agricole in capital
Strong demand and tight spreads has propelled volumes past January records
◆ Higher rated Austrian lender offers more spread for similar senior preferred bond ◆ Big demand pushes deal inside fair value ◆ BCP still prints its tightest unsecured debt for more than five years
Data
Late-week surge shows investors remain hungry for paper despite macro volatility
Classic January new issue volumes as barely there premiums come into vogue but US banks threaten to crowd out Europeans
Avoiding unsecured euro issuance, French banks have concentrated funding in dollars and covered bonds as they eye record start
Unsecured bonds could become more expensive to issue, covered bonds cheaper
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◆ Leads increase deal size due to demand ◆ Book kept growing after reoffer tightened ◆ Gap between Greek and Italian spreads shrinking, says rival banker -
◆ Australian bank planning €500m covered ◆ Issuer's first euro deal since September 2023 ◆ Barclays, Natixis and UBS are lead managers
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Waterfall of promotions follows Karia's move to insurance post
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BMW returns with German prime car leases, Domivest with Dutch buy-to-let mortgages
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Three trades have come in as many days
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◆ Issuer nearly halves funding cost from April 2024 capital debut... ◆... close to larger competitors' spreads ◆ New deal strengthens its bail-in debt layer and ratings
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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