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OTP plans first Swissie issue from a Hungarian bank for 16 years
Bank11 also added a German auto ABS to the double-digit pipeline
The deal could help refinance Uber’s recent $14.8bn takeover of Delivery Hero
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
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Julius Baer returned to the dollar additional tier one (AT1) market on Tuesday, having pulled a transaction last week. It changed bookrunners, shortened its call period and offered a higher coupon to get its deal away this time. -
Gabriel Levy will start as Natixis's global head of debt capital markets this week, replacing Michael Haize, who is moving over to the global markets division to become global head of rates and currencies trading.
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September’s highly oversubscribed covered bonds meant the European Central Bank’s primary market order was considerably cut, forcing it to scour the secondary market for paper. With October’s supply likely to be lower and redemptions expected to soar, the ECB must become an even more aggressive buyer, or watch its portfolio shrink.
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Fédération des Caisses Desjardins du Québec (CCDJ) mandated leads for its first dollar covered bond in a year on Monday. The issuer joins Sumitomo Mitsui Trust Bank, which on Monday crystallised plans to press ahead with its debut deal following a period of soft marketing, while Swedish non-conforming lender Bluestep Bank commenced marketing on Monday.
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LBBW struggled to get going with a new green bond in the sterling market this week. It had to settle on a final spread at the wide end of its initial price thoughts.
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Mizuho Financial Group will be looking to time the sale of a new senior deal very carefully this week, with euro market conditions still proving challenging for issuers.
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
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