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The winning institutions, deals and individuals revealed at our inaugural gala dinner in London
◆ Japanese insurer had almost no attrition in its senior preferred trade ◆ Some NIP left for investors ◆ Busy week for Japanese issuers in euros
◆ Thursday's only covered deal, possibly February's last ◆ French issuer likes dual tranche format ◆ 'Disconnect' between primary and secondary markets apparent, says banker
Data
Shrinking spreads between the two asset classes have left investors asking if the risk of senior debt is worth it
Nykredit blasts through 300bp barrier, pushing investors up the capital stack
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
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◆ Deal ends with the largest book for a BPER senior trade GlobalCapital has tracked in recent years ◆ Pricing is flat if not inside FV ◆ Green deal sends encouraging signals to the periphery's other less frequent issuers -
Some rival bankers said ‘wrong day’ to issue as spread debated
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◆ BPER Banca prepares debut green senior bond amid sparse pipeline ◆ CRE worries hang over market but spreads widening reverses ◆ Key data and holidays could limit FIG primary activity
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◆ Primary market for banks flying but will property burst the bubble? ◆ Japan to debut transition bond as SLLs fall out of favour ◆ Kenya back in bond market
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Emirati bank prices inside dollar levels with first Swissie deal since 2019
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Commercial real estate worries creep back into investors’ minds but rate cut hopes and need to place cash prevail
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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