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◆ Swiss bank lifts nearly €3bn-equivalent ◆ Long euro tranche lures large demand ◆ Both tranches pay visible premium in 'pragmatic' funding approach
◆ Green tier two comes against 'rocky' macro backdrop ◆ Takeover battle throws uncertainty on secondary performance ◆ 'Elevated NIP' paid, rival banker said
◆ UK insurer returns to home currency after two years ◆ Gilt yield surge aids revival in sterling FIG across capital structure ◆ High single digit NIP
Data
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
Capital deals and a tight Nordic senior print point to what lies ahead for issuers
The single currency stands out as the most attractive funding source while the US dollar market remains open in size
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The European Banking Authority has published its first EU-wide climate risk assessment. It reveals that many banks lack the granular data required to reliably estimate their green asset ratios. -
Greece’s Alpha Bank has launched an €800m capital raise to prepare for growth as the country benefits from the clean-up of non-performing loans and EU Next Generation funds.
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UBS was set to issue three tranches of dollar debt through its operating company on Monday, as it sought to tap into a strong pool of demand for short-dated bank issuance.
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Volatility subsided amid a series of public holidays in Europe on Monday, raising hopes for a busier week of bank bond supply.
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UniCredit will skip a coupon on one of its legacy capital instruments this month, after stating that a net loss in 2020 means it no longer needs to make the payment. Investors were surprised by the decision, which many saw as a U-turn.
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HSBC raised A$500m ($388m) on its return to the Australian dollar bond market on Thursday, securing a "fantastic" result by offering a pick-up over local bank bonds.
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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