Top section
Top section
◆ Final book tops $6bn ◆ Higher beta paper 'clearly in demand,' syndicate banker said ◆ NIP debated
◆ Deal sets new multi-year tight spread for a senior non-preferred euro bond ◆ Sale follows Nordea Bank's seven year senior preferred from last week ◆ Both issuers offer some new issue concession to compensate for low spreads
French banks lead the charge in euros with tighter than average NIPs
Data
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
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
More articles/Bond Comments/Ad
More articles/Bond Comments/Ad
More articles
-
◆ Late start followed with quick updates ◆ Fair value debated ◆ Greek paper getting 'too tight' for some investors -
◆ Irish lender sets size at €1bn ◆ Minimal concession paid ◆ Bank is 'swimming in capital'
-
Deal grew to €850m from a pool of €600m
-
George Smith talks to Tom Hall about a run of giant ABS deals, and to Thomas Hopkins about whether changes to Solvency II will bring insurers flocking back to securitization.
-
Market is particularly interesting for banks doing capital trades
-
◆Both opt for senior non-preferred ◆ Some premium ◆ Big books despite competition from other large names
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
Sub-sections
Comment