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Investors seek yield in long-dated FIG subordinated and senior markets
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
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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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SaarLB to test demand with year’s first 10 year Pfandbrief -
◆ French insurer raises €1.5bn from debut RT1 ◆ Deal reaches peak demand of €8bn even when pricing was through perceived FV ◆ Rare asset makes finding accurate FV very difficult as other deals have low coupons
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Lanark 2024–1 tightens to 50bp, 4bp inside similar Santander covered bond
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◆ Vast interest for FIG debt capital as investors make €15bn of orders ◆ Periphery tier one and two deals prove very popular ◆ Arkéa struggles to attract interest and pulls 12 year tier two
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Scarcity and 'clever tenors' deliver €7.2bn book for ABN as 'pragmaticism' secures €1bn for Santander
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Axa and BPER prepare to issue tier one, Piraeus seeks tier two
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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