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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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◆ US insurance funding agreement-backed notes are set to grow in euros ◆ New names are taking longer to meet investors ◆ New pair to follow euro duo from last week -
◆ Greek bank’s unique approach benefits both legs ◆ Follows overhaul of assets and NPLs ◆ Capital and credit specialists among buyers
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No one can work round the clock. But what happens when the proverbial hits the fan?
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French covered bonds, southern European senior and tier two paper among the deals expected
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◆ How worrying is Section 899? ◆ A summer of toil for public sector issuers ◆ Seesawing curves in FIG
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◆ Euro deal is Canadian bank’s third after US and Canadian dollar prints ◆ Short-end floating rate debt remains popular among investors and issuers ◆ RBC prints flat to its home market
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 leading banks, issuers, individuals and other market players were named at GlobalCapital's flagship industry dinner in London
The winning deals and organisations will be revealed at our gala dinner in Seville on September 18
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