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◆ Swedish bank tightened spread by 28bp ◆ LF Bank opted for the €500m no-grow format ◆ Bonds offered 2bp of new issue premium, an expert said
◆ Greek bank tightened spread by 25bp ◆ One of two green bonds sold on Tuesday ◆ Green label creates 'stickier' order book, says banker
Observers wanted 30% of allocations to go overseas, but ENBD fell a little short
Data
Banks could rush to issue as fast as possible, taking advantage of remarkably tight spreads
Growing pipeline and fiercer competition had threatened to shake the darling bonds of May
Uncertainty in Middle East peace negotiations may reignite alarm, but investors remain willing as long as issuers pay to play
Tweaks to trading book rules will be next stage of competition
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Fitch has upgraded its ratings for Piraeus Bank and the National Bank of Greece (NBG) following their successful sales of non-performing assets. With more de-risking to go and a potential additional tier one (AT1) deal on the way, further upgrades could follow. -
Nordea made a rare entry into the euro tier two market on Monday, taking advantage of strong issuance conditions to steer its pricing in close to fair value.
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Commonwealth Bank of Australia’s New Zealand subsidiary, ASB Finance, has mandated leads for the first Kiwi covered bond since January 2019. At the same time, Berlin Hyp has appointed lead managers for a 12 year mortgage Pfandbrief.
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Crédit Agricole has promoted four staffers to fill vacant and newly created positions in its debt capital markets leadership team, including global head of financial institutions DCM and head of European corporate DCM.
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Banque Internationale à Luxembourg issued its first tier two capital bond for almost five years this week, opting for a private sale.
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UBS has revamped its management of sustainability and appointed Michael Baldinger as chief sustainability officer. Last month it named Suni Harford, president of UBS Asset Management, as group executive board sponsor for sustainability and impact.
Polls and awards
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
The leading banks, issuers, individuals and other market players were named at GlobalCapital's flagship industry dinner in London
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