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◆ Insurance companies anchor long dated green tranche with near-4% yield ◆ Curve extension debated ◆ Deal comes amid widening secondary spreads but lands with negligible premium
◆ UK lender raises $4.5bn-equivalent in five senior holding company tranches this week ◆ Both deals target long dated funding ◆ Despite secondary widening, euro offering lands with hardly any premium
◆ 52bp reoffer equals Nordea’s multi-year record ◆ ‘Insane’ levels show FIG spread compression, rival banker said ◆ Buy-and-hold investors prioritised
Data
Favourable market conditions have made raising debt like 'fishing with dynamite' for bank issuers. But concerns are mounting about volatility ahead
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
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Standard Chartered raised $1bn AT1 with none to call next year -
◆ Issuer captures strong opening to launch capital pre-funding ◆ Achieves tightest spread from Spanish bank in longest tenor ◆ But as market weakened the deal lost some steam
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◆ Belfius pre-funding for 2026 ◆ RBI deal more than seven times subscribed ◆ Softness earlier in the week 'just a blip'
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◆ Hungarian bank's €100m deal takes €1.15bn of orders ◆ Issuer had Wednesday's FIG market to itself ◆ CEE names offering 'nice pickup'
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Banks tap Asia for diversification, while SSAs stay busy in euros and dollars
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UK’s Financial Conduct Authority overlooked ‘technical fault’ and ‘conflict of interest’, lawsuit alleges — FCA will seek to overturn injunction
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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