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◆ 'Reassuring' result as Danish lender becomes more frequent issuer ◆ Strong bid from international accounts ◆ Minimal NIP
◆ Shorter tranche tightened more than longer ◆ Largest single euro covered tranche since 2024 ◆ Banker said longer end paid more premium
◆ Issuer chose larger order size ◆ Strong supply of five year covereds cited ◆ Seventh German covered in three weeks
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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The GlobalCapital Covered Bond Awards survey is now open and market participants are invited to take a look at the voting shortlists before casting their votes for this year’s best lead managers, issuers and deals. -
UniCredit attracted plenty of demand for a €1.25bn sale of non-preferred senior debt in euros on Wednesday, as issuers took advantage of strong funding conditions ahead of the summer period.
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Market participants said that de Volksbank was close to sailing through fair value with the pricing on its new tier two on Wednesday, the first such deal in green format from a European bank.
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CCB Leasing (International) Co issued a $500m bond on Tuesday, making it the latest Chinese financial borrower to tap the debt market.
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Capital markets have provided record volumes of funding during the coronavirus pandemic, according to a new report from Afme. But a concurrent boom in bank lending shows that European companies still need broader access to equity and debt finance.
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Rishi Sunak, the UK chancellor of the exchequer, has already thrown some cash from the air to boost the economy and prevent a more serious downturn, with job retention measures, a cut in VAT and meal vouchers. But that won’t be enough. The UK needs a full scale helicopter drop.
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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