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◆ Issuer takes advantage of attractive sterling funding levels ◆ Printing during UK school holidays no problem for 'very well loved name' ◆ Sterling FIG senior undersupplied versus last year
◆ Stockholm bank reached its preferred size ◆ Issuer’s third covered in three years ◆ Norwegian issuers have dominated Nordic covereds this year
European bank trio pushes dollar AT1 volume well above the same period last year
Data
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
Funding across all parts of the capital structure is available with issuers likely to prioritise unsecured borrowing
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◆ Issuer took advantage of attractive euro funding levels ◆ 'The best quality name you can buy,' lead says ◆ Premium paid -
Higher dollar yields dampen some of the callable demand
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The deal is backed by mortgages originated by Quantum Mortgages
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Santander also priced what looks to be the only euro ABS deal this week
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Spreads are back at pre-Iran war levels, but still offer a premium to western Europe
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◆ Issuer was looking to come to market from Monday ◆ Lead says order book 'highest quality' seen on recent trade ◆ Low single digit concession
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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