Top section
Top section
◆ Deal is joint tightest in the asset class since October 2021 ◆ Finishes with larger book than Nordea's November 2025 outing ◆ 'Flight to quality', outright rates and search for sub paper power strong outcome
◆ RBC's second euro dual trancher of the year ◆ Takes large size in very busy market ◆ 'Nice' to price 4NC3 10bp inside Morgan Stanley, lead says
◆ First RT1 since January ◆ Huge order book with no attrition ◆ High-beta appetite increases further down the capital structure, lead says
Data
Issuers seizing moment as rates stabalise and spreads hold near historic tights but some deals betray signs investors growing sensitive on price
Less frequent issuers making the most of market with strong bid for yieldy assets
Borrowers want to issue and spreads are tight, but execution windows are very unreliable
Tightening absolute and relative valuations have raised some concerns, but FIG assets remain in vogue thanks to higher rates
More articles/Bond Comments/Ad
More articles/Bond Comments/Ad
More articles
-
◆ Scotia unearths arbitrage and a greenium in Swissies ◆ Label fuels demand among asset managers for inaugural note ◆ Aktia eyes Swiss franc debut of its own -
The turning macro cycle means smaller bank issuers can afford to take their time and steer clear of the seemingly piping hot but unpredictable bond market
-
SSA funding is advanced but rates volatility and QT fears are still in play
-
Landesbank Berlin's Pfandbrief was not received as well
-
◆ Belfius attracts attention with its joint largest senior deal at 10bp NIP ◆ Now lower tier banks 'don't have to be a hero' to issue ◆ Cajamar debuts in green
-
◆ UK issuer tightens pricing in contrast to recent FIG deals ◆ Shorter tenor gives alternative to oversupplied five year sector ◆ YBS nearly doubles demand of previous outing
Polls and awards
The awards recognise the market's leading deals, issuers, banks and other participants
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
Sub-sections
Comment