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Conducive credit markets and tight spreads to lure issuers as risks loom on the horizon
Yankee deals range from subordinated debt debuts to super long senior extensions
◆ Steady demand thanks to improved investor perception ◆ Deal pays high single digit premium... ◆ ... but becomes issuer's tightest unsecured issue for many years
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 European Central Bank has promised to undertake “shorter term” initiatives to move the eurozone closer to a Banking Union, conceding that member states were finding it challenging to implement the full long-term overhaul. -
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Investors embraced a rare offering of non-preferred senior notes from Bankinter this week, with the Spanish issuer making its debut in the green bond market.
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Financial institutions did not take long to return to printing new bond deals at tight spreads this week, as investors quickly got over fears about the impact of the coronavirus epidemic.
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Lloyds Bank and National Australia Bank issued two very well received Sonia linked sterling covered bonds this week, taking advantage of demand spotted in a deal issued by Royal Bank of Canada last week.
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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