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◆ Dutch lender's latest €2.5bn senior holdco follows Aussie domestic senior foray ◆ Comes a day after $1.5bn AT1 and before green RMBS ◆ Demand for senior unsecured assets is strong as ING clears big funding with limited, if any, new issue concession
◆ 'Strong demand' supported tight execution, DCM banker said ◆ Landeskbank sought to expand international participation ◆ Concession debated
Demand peaked at six times the deal size, but many orders dropped out
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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◆ Combined order books topped €9bn ◆ Demand continued to grow after tightening ◆ Tier two priced through fair value -
'Wider issues' in sterling ABS market caused popular issuer's deal to land at IPTs
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Insurance leaders warn society must get to grips with extreme weather perils and plan for how to cope with the costs
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Global regulators warn failure to align stablecoin rules could destabilise markets as product heads for $2tr by 2028
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◆ First Italian bank bond aligned with new standard ◆ Investors like what they see despite busy day for issuance ◆ Trade lands flat to similar, recent UniCredit deal
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Credit spreads widen on private credit concerns though technicals remain favourable
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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