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Highly anticipated report did not mention future role of AT1 capital
Three money centre banks' big new funding comes at elevated premiums as market taken aback
The French Budget in October and US mid-term elections in November could be times for covered bond issuers to avoid
Data
Money centre banks pay to to land jumbo deals at sizes unheard of in euros
Beyond the proposed lower leverage ratios, new frameworks may give banks more flexibility at times of stress
Recent Unicaja tender and new issue prompts talk of wider adoption of debt management technicque more popular in US market
Banks are well advanced with funding, but spreads could encourage pre-funding of subordinated capital
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◆ Second European bank to bring a dollar AT1 this week as investors bid for risky assets ◆ Market conditions deteriorate during Wednesday ◆ More than half of book lost -
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Deal is backed by loans originated by Abound
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◆ Issuance plans were disrupted by war in the Middle East ◆ Spread tightened by 4bp ◆ NIBC is going to be acquired by ABN Amro
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Short senior FRNs emerge as Nordic banks go local
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◆ First capital trade by an international bank since Iran war began ◆ Fair value debated, some spot visible concession ◆ $2.5bn size across two tranches supported by $17bn book
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Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
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The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
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