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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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Charlie Berman, the bond market veteran, believes the platform he is developing, Agora, will not face competition from other fintech applications in the debt capital markets, due to its unique selling point of covering the entire lifecycle of a bond and the use of distributed ledger technology.
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GlobalCapital China is pleased to announce the winners of its annual awards, recognising the banks, issuers and individuals that have made the biggest contribution to developing China’s onshore markets. In part one, we reveal the most impressive issuers in the FIG, corporate and SSA categories. -
Public sector bond issuers surprised on the upside in 2020. In 2021, banks predict them to be big borrowers again — and they expect to make money from them. Twenty-six heads of debt capital markets in the EMEA market participated in Toby Fildes’ annual outlook survey. Only a few firms are expecting to have to cut jobs, but the UK will bear the brunt. On the eve of Brexit taking full effect, Paris, Frankfurt and Dublin look set to be the winning cities. Good news for all: 80% of banks see the last significant Covid restrictions being lifted by the second half of 2021.
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After four years of the US government noisily refusing to protect humanity from climate change and pushing back on responsible investing, sustainable finance supporters are full of hope that Joe Biden’s presidency will shift the US — and the world — in the right direction. Jon Hay reports
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The shock of coronavirus has changed markets — and society — forever. Toby Fildes picks out the key themes that will emerge from that upheaval in 2021. As 2020 has reminded everyone, the unexpected will happen — but markets can cope.
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If central bank and government support was the scaffold that propped up the vast amount of funding done in lockdown, then long-held relationships between institutions — between people — were the bolts holding it together. The longer those in markets spend apart, writes Ralph Sinclair, the weaker those links will grow.
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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