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Demand peaked at six times the deal size, but many orders dropped out
Bank is issuing second trade using structure launched in October
◆ Final book tops $6bn ◆ Higher beta paper 'clearly in demand,' syndicate banker said ◆ NIP debated
Data
French bank scoops top spot overall, while BNP Paribas leads in senior and Crédit Agricole in capital
Strong demand and tight spreads has propelled volumes past January records
Late-week surge shows investors remain hungry for paper despite macro volatility
Classic January new issue volumes as barely there premiums come into vogue but US banks threaten to crowd out Europeans
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◆ Insurance company's first outing since 2023 ◆ Book continued to grow after reoffer ◆ 'Pretty much everybody from the UK real money investor base' present -
Barclays’ £3.76bn consumer ABS and NatWest’s £2.49bn RMBS release the banks’ risk weighted assets
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◆ First UK bank to issue euro AT1 since 2020 ◆ Orders exceed €8bn ◆ Signals investors 'want duration'
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Strong demand for slim supply could tempt issuers to access the market before Christmas
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Recent sluggishness experienced by a Saudi AT1 is unlikely to be repeated for KFH's deal
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◆ Two insurers announce capital deal mandates◆ Bermuda tier one offers unique reset structure ◆ Bupa opts for sterling 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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