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◆ Deal is the tightest ever Greek AT1 ◆ Book peaked more than €5.5bn ◆ Market 'just ridiculous', says lead manager
Market tipped to be a marathon, not a sprint, as Aareal Bank becomes fourth issuer of 2026 and fixed rate tranches take root
Only one of Canada's big five banks has yet to publicly support new defence bank initiative
Data
Favourable market conditions have made raising debt like 'fishing with dynamite' for bank issuers. But concerns are mounting about volatility ahead
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
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Bond specialists sceptical that auctions can yield better results than bookbuilding -
Bye-bye euro curve steepeners, there's a new consensus trade in town
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Deal was priced 6bp tighter than most recent iteration of the asset class
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Asset manager becomes first Korean entity to issue digital bonds in private placements
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Absence of larger covered bond issuers provides a window for smaller deals
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◆ German bank fixed spread and size at outset ◆ Issuer not 'closely followed in UK' ◆ Niche sterling issuer meant 'no clear reference for FV'
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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