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Norinchukin Bank markets dollar Global, but new deal's effects on European market are uncertain
Market participants argue that market uncertainty makes shorter tenors more palatable for investors
Quick insurance trade lands close to fair value, through equivalent dollar levels
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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Banks are always in someone’s sights, sometimes even their owner's. But look to the bond market, not the newspapers, for whether they are in real trouble -
◆ Size and execution the main attractions of dollars, but it costs more ◆ Well progressed UK banks weigh taking a chip off the table ◆ Dollar covered bonds unlikely
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Development banks could issue hybrids up to a third of their equity
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Banks cannot rely on deposit growth
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Pressure to increase returns is driving international expansion as Japanese banks position for growth and hopes rise of more M&A activity from their domestic clients
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◆ Regulator starts collecting data on hedging and accounting of capital instruments ◆ Is AT1 debt or equity? ◆ BNP Paribas’s reclassification of future dollar AT1 provides an example
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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