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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
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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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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. -
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.
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Non-preferred senior and holding company issuance was the focus for bank borrowers in euros this week, in what has been a slow start to the year by FIG market standards. With cheap central bank funding on offer, issuers have opted to start their funding programmes by filling their regulatory buckets.
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Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
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The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
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