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◆ Italian banking in 'very interesting place,' lead says ◆ Low NIP ◆ First issue since Monte dei Paschi announced takeover bid
◆ 'Strong' bid from international and domestic accounts ◆ Priced inside of issuer's target level ◆ Lower NIP than last week's trades
◆ Spreads tightened on eight and 12 year tranches ◆ Banker had issuer paying 2bp NIP on both legs ◆ ING’s second covered deal of 2026
Data
Contrasting investor receptions in euro and sterling markets but new issue premiums rise in both
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
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José Manuel Campa, chairperson of the European Banking Authority, suggested on Monday that countercyclical capital buffers could be more effective if they were set in a harmonious way across jurisdictions. -
Julius Baer was forced to postpone a new transaction amid 'worsening market conditions' on Monday, after coming close to setting a new record for the lowest ever additional tier one (AT1) coupon in dollars from a European bank.
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Italian lender Iccrea Banca is expecting to add a one year call option to its latest senior deal, which could arrive in the euro market this week.
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Agora, the end-to-end debt capital markets platform being developed by bond market veteran Charlie Berman, has closed a second funding round with support from new investors including David E. Rutter, the founder and chief executive of R3, the company behind the Corda blockchain system on which Agora will operate.
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Rabobank has issued its largest green bond, a day after publishing a new Sustainable Funding Framework that will enable it to print debt in four different green and social flavours — a structure it hopes will give investors more clarity.
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Nationwide Building Society is buying back £2bn of covered bonds in euros and sterling. UK covered bond issuers are buying back securities as risks increase ahead of the end of the Brexit transition period.
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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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