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◆ Second 'chunky' US bank euro print in a week ◆ Deal lands close to fair value ◆ But longer, fixed rate tranche raises questions as it is spotted wider in grey market
◆ First senior preferred in two years ◆ 3bp of concession ◆ Senior spreads 'really tight' versus covered bonds
Absence of new bonds to help secondary spreads grind tighter
The next leg of the spread convergence between eurozone periphery and core FIG issuers could come from the east or south
As the latest senior issuance sets new low in FIG euro spreads and call premiums evaporate at the long end, questions are being asked — how low is too low?
Deal opens door for more foreign FIG regulatory capital raising Down Under
'Great' market conditions are not immune to central bank surprises and fund inflow changes
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The deal was in the primary market for longer than usual -
◆ Issuer's first unsecured bond since March 2021 ◆ Tight pricing for rare name in the asset class as ...◆ ... 'everybody wants to grab every piece of paper they can get'
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Five and 10 years more appealing, with ultra-long spreads deemed 'rather costly'
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Warehouse backed by heating loans as well as solar
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◆ Lender issues first bond after renaming from de Volksbank ◆ Follows through with its all-green strategy ◆ New deal compliant with both EU and ICMA green bond rules
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◆ Achmea's second RT1 this year ◆ Book continued to grow after tightening ◆ Investors 'looking for anything offering a bit of yield'
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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