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◆ Tightest UK bank tier two since 2021 ◆ Book holds despite tight levels ◆ Latest in recent flurry of FIG tier two issuance
Charter Court prices tightest UK BTL RMBS in almost a year
◆ Issuer raises large size for the currency ◆ Pricing break through 100bp level ◆ Book stays almost intact despite macro volatility
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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◆ Spanish lender returns to unsecured issuance after three years ◆ Spanish banks are seizing a favourable funding environment ◆ Concession paid to keep selective investors interested -
◆ Book grew after pricing tightened ◆ Issuer's first capital trade in two years ◆ Premium paid
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The deal grew from €350m after receiving strong demand
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The lender only put one investment bank on the mandate, a rarity in Turkey
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The awards recognise the market's leading deals, issuers, banks and other participants
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◆ Venezuela embarks on historic debt restructuring ◆ Canada suggests covered bond boost ◆ European Secured Notes are here. Regulate them
Polls and awards
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
Last chance to vote for the best winning deals, individuals and organisations in the covered bond market
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