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◆ Follows RT1 from Crédit Agricole ◆ Still ample demand for insurance capital, rival banker says ◆ Cardif's third capital trade since November
◆ Insurer's debut in euros, having issued in US dollars and sterling ◆ Took larger end of size range ◆ Deal offers relative value to Aussie banks, lead says
◆ UK bank's first European opco deal in more than five years ◆ Higher real rates spurred demand for short-dated assets ◆ Larger FRN clears with no premium
Data
Currency's higher yielding appeal has lured investors across the capital stack
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
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◆ Gabon gets it right second time ◆ FIG forgets it’s meant to be summer break ◆ AT1s complete their redemption arc -
Busy week across products and currencies reduces chance of saturation
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◆ Second Swedish sub in a row to be priced with a spread below 200bp ◆ Market is strong but investors are price sensitive ◆ SEB pays higher NIP than Handelsbanken did
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Core European banks are likely to pave the way
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◆ Nationwide adds Swissies to non-pref funding mix ◆ Busy pipeline of Swiss deals across asset classes
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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
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