Top section
Top section
Issuers had it almost all their own way in the European FIG market in 2025. Investor appetite for credit far outstripped supply, causing spreads to tighten along with the average new issue premium on syndicated benchmark-sized deals. Flynn Nicholls reports on the dynamics that shaped the primary market
Tighter senior-covered bond spreads could see issuers prioritising unsecured over covereds
Third deconsolidation RMBS from a UK challenger bank since November
Data
Vagueness over the future of AT1s pushes market rethink, though implementation is unlikely to come soon
Despite uncertainties even stringent European regulations are expected to be simplified amid global race to lighten the load on banks
Markets adjust to bumpy French political landscape as it mimics past Italian wobbles
Bankers say Budget may determine if FIG issuers print in sterling through December or hold off until January
More articles/Bond Comments/Ad
More articles/Bond Comments/Ad
More articles
-
Everyone knows investment bankers’ jobs can be cut at a moment’s notice. It’s one thing when you’re experienced and have made some money. But junior bankers are just as vulnerable, and have fewer options. It’s a big problem this year -
◆ DOGE threatens US CMBS recovery ◆ Drill, baby, drill? Borrow, habibi, borrow ◆ Cracks appear in European credit market
-
◆ NN the first Friday deal in six weeks ◆ Investors hungry for undersupplied Dutch paper ◆ Book grows after spread set
-
Froth evaporates in unsecured FIG as corporates still fly
-
◆ Pace of FIG issuance in the US slows down ◆ Nordea the sole Yankee financial issuer this week ◆ Local insurers make up the rest of the primary action with senior and subordinated offerings
-
Investors are hungry for any paper offering more than 3%
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
Sub-sections
Comment