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◆ Largest Australian tier two tranche since 2020 ◆ Pays slightly higher NIP than earlier deals ◆ 'Novel' structure attracts high quality order book
Deals price tightly to Western European peers, with high-spread Icelandic banks performing the most
◆ British lender fixed spread and deal size from outset ◆ Order book closed at over two times the deal size ◆ Fixing terms enabled faster execution, the lender said
Data
Funding across all parts of the capital structure is available with issuers likely to prioritise unsecured borrowing
With masses to fund and spreads super-tight, banks will race to market, but central banks are expected to tighten
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
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Covered bonds issued by SR Boligkreditt and Vseobecna uverova banka (VUB) this week were well subscribed, reflecting the generous spreads they paid compared to deals by issuers from core Europe.
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‘Angrynomics’, a well-timed book on anger and how it relates to politics, economics and finance by Eric Lonergan and Mark Blyth, is published this week. GlobalCapital spoke to Lonergan to discuss its meaning. -
The success of Rich Ricci’s banking comeback depends on getting a revered old broking brand back on its feet.
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Deals issued on Thursday by SR Boligkreditt and UniCredit Germany (HVB) illustrated that investor demand is skewed to bonds that offer a pick-up, no matter how small.
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Green bonds made up the majority of the supply in the euro bank bond market on Thursday, with Hypo Noe and Santander capitalising on strong demand for the asset class.
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Stephan Gimpel is leaving Citi to pursue an opportunity in fintech, after 14 years in the US bank’s debt capital markets business.
Polls and awards
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
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
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