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◆ Insurance companies anchor long dated green tranche with near-4% yield ◆ Curve extension debated ◆ Deal comes amid widening secondary spreads but lands with negligible premium
◆ UK lender raises $4.5bn-equivalent in five senior holding company tranches this week ◆ Both deals target long dated funding ◆ Despite secondary widening, euro offering lands with hardly any premium
◆ 52bp reoffer equals Nordea’s multi-year record ◆ ‘Insane’ levels show FIG spread compression, rival banker said ◆ Buy-and-hold investors prioritised
Data
Favourable market conditions have made raising debt like 'fishing with dynamite' for bank issuers. But concerns are mounting about volatility ahead
French bank scoops top spot overall, while BNP Paribas leads in senior and Crédit Agricole in capital
Strong demand and tight spreads has propelled volumes past January records
Late-week surge shows investors remain hungry for paper despite macro volatility
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Further covered deals expected but demand could skew towards riskier paper -
◆ Issuance abounds despite Iran-Israel escalation ◆ European securitization regulatory proposals unveiled ◆ A digital first for sovereign bonds
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Market participants struggle to justify FIG and corporate bond parade as technicals power primary
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Borrowing in euros inevitable as CEE firms look to become 'larger, more regular issuers'
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◆ Issuer plans regular euro presence ◆ Deal comes flat to Swedish krona ◆ Five years appeals to the deepest pocket of investors
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The leading banks, issuers, individuals and other market players were named at GlobalCapital's flagship industry dinner in London
Polls and awards
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
The winning deals and organisations will be revealed at our gala dinner in Seville on September 18
The awards recognise the market's leading deals, issuers, banks and other participants
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