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◆ UK bank uses the first issuance window after earnings, central bank meetings and holidays ◆ Deal coincides with busy euro credit market ◆ Barclays attracts attention with relevant new issue concession
◆ Dutch bank goes 'head to head' with Alphabet in euros ◆ Brings its longest ever opco tranche ◆ Book skewed towards two year FRN
◆ French issuer tightens spread by impressive 8bp ◆ CFF's fourth covered bond in past two months ◆ Spread of 51bp was flat to fair value, says banker
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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The combination of Deutsche Hypo into NordLB has failed to cause much of a stir in the covered bond market as, even though the merged cover pools will be very different, spreads between their Pfandbrief curves have little room for manoeuvre. -
Bank of China sold its debut transition bond on Thursday, giving the still nascent market a big boost by opting for a dual currency dollar and renminbi deal.
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China Huarong Financial Leasing Co wooed investors with a $300m short-dated bond on Thursday to meet some of its general funding requirements, returning to the debt market less than six months after its last outing.
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Loynes extends syndicate responsibilities at Crédit Agricole — CS's equity sales head to join Citi — Flori starts at CEB funding team
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Yankee issuers stormed into the US dollar market to lock in record low levels of funding, despite this week’s turmoil in Washington, DC.
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Spain’s Abanca sold the year’s first subordinated deal in euros on Thursday, when it issued a perpetual non-call 5.5 year additional tier one (AT1) bond to help optimise its capital structure.
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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