Top section
Top section
Contrasting investor receptions in euro and sterling markets but new issue premiums rise in both
Bankers predict steady flow of covered bonds issuance over coming weeks despite recent spike in activity
The conditions are in place for the return of big-ticket M&A to create a European banking champion that is sorely needed — provided the politics of it don’t get in the way
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
More articles/Bond Comments/Ad
More articles/Bond Comments/Ad
More articles
-
Leeds Building Society is preparing to return to the sterling market this week for its first ever sale of non-preferred senior debt. The new bond will help the issuer refinance a euro deal maturing later this year, while reshaping its balance sheet for the minimum requirements for own funds and eligible liabilities (MREL). -
Plans for a global Insurance Capital Standard (ICS) will be subject to a "small number of revisions" in 2021, according to the International Association of Insurance Supervisors (IAIS), which has completed its first round of feedback on the new framework.
-
FIG issuers are taking care to announce deals before opening order books this week, as they try and book their places in the market ahead of a tricky meeting for the European Central Bank on Thursday.
-
Goldman Sachs led a bumper week of dollar bond supply this week, as the high-grade market showed its resilience and investors lapped up issuance from a broad array of bank and finance names.
-
Intesa Sanpaolo ventured outside of its home market in search of senior paper this week, placing its first sterling deal in almost nine months and its first yen trade since early 2019.
-
Crédit Agricole Italia has mandated its parent company’s investment banking arm to arrange investor calls ahead of its inaugural green covered bond.
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
Sub-sections
Comment