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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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ING and BNP Paribas are already being sued, and more may follow -
Single tranche format unlikely despite recent successes
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Taor is one of Europe’s longest-serving debt capital markets heads
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French bank can afford to be opportunistic thanks to its well-advanced funding plan, as it will not immediately rush to revisit the subordinated debt market after its pulled tier two deal, its head of capital markets tells GlobalCapital
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German issuer follows recent French successes in longer-end
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◆ Pricing comes tighter than where LBBW and Helaba last issued similar SNP floaters ◆ Deal will enhance BayernLB's credit rating
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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