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This year's cumulative total issuance by financial institutions outstrips 2025's levels
◆ Spanish covered was only new issue on Wednesday ◆ Tenor has been well-issued in past week ◆ Banker said market to slow from here
Hong Kong dollar and offshore renminbi bid returns, while dollar callables lose momentum
Data
Conducive credit markets and tight spreads to lure issuers as risks loom on the horizon
Contrasting investor receptions in euro and sterling markets but new issue premiums rise in both
Observers blame slower bookbuilding on deal-specific factors but others see warning shots for whole market
Covered market provides 'the deepest pocket of demand' among FIG asset classes
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Yankee deals range from subordinated debt debuts to super long senior extensions -
Four banks brought dual tranche covered bonds in two days this week, to avoid being squeezed in congested market
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The £500m trade is the joint largest non-bank credit card ABS, matched by CoT’s previous deal
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◆ Bank issues amid heavy supply from US tech companies in euros and sterling ◆ Dual tranche structures takes the maximum volume eyed ◆ Second largest YTD volume printed by US FIG sector
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◆ Part of prefunding for 2027 ◆ Low-to-mid single digit NIP ◆ Green issuance has increased since last year
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Lendco also added a UK BTL RMBS to the pipeline
Polls and awards
Cast your vote now to decide this year's covered bond award winners and express your views in our new market survey
Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
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
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