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◆ Wednesday's 'stand out' senior trade ◆ €1.6bn order book largest ever for BoC ◆ First transaction since acquisiton of UAE-based CDB Bank
Elena Bortolotti was promoted to managing director at Barclays in January 2022
◆ Largest Australian tier two tranche since 2020 ◆ Pays slightly higher NIP than earlier deals ◆ 'Novel' structure attracts high quality order book
Data
Tightening absolute and relative valuations have raised some concerns, but FIG assets remain in vogue thanks to higher rates
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
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Investors with short dated needs finally fed a deal -
Selling NatWest shares on the cheap to retail investors risks political controversy and won’t boost interest in the UK’s downtrodden equity market
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Bankers disagree about whether fatigue for 10 year deals is growing
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Bankers away from Argenta’s trade say pricing started wide
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◆ German issuer's new deal fits within the 20bp-25bp differential for SP and SNP bonds of tight European FIG names ◆ Tenor matches investors' and issuers' 'sweet spot' ◆ Majority sold in Germany where DekaBank enjoys strong name recognition
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Bankers say primary covered market remains in great shape
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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