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
-
CaixaBank and BayernLB were able to sail through fair value with green non-preferred senior deals this week, bucking a trend for rising new issue premiums in 2021. Bankers say a lack of supply is finally helping borrowers to exert more power over their pricing. -
-
-
Morgan Stanley swung by the euro market this week to raise €1.75bn of new senior debt. The move was unexpected given that pricing for international issuers remains more favourable in dollars.
-
The Prudential Regulation Authority wants UK lenders to carry out “tactical solutions” over the next six months so that they are ready for the possibility of negative rates later this year.
-
Deutsche Bank was able to present a successful year for its investment bank when it announced fourth quarter and full year results on Thursday, coming 18 months after the restructuring of the business. The question now is whether it will be able to hold onto its increased profitability when times are less lucrative for investment banks.
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