Top section
Top section
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
More articles/Bond Comments/Ad
More articles/Bond Comments/Ad
More articles
-
Market participants are expecting 2020 to be a very active year for covered bonds, with new issuance volume underpinned by growth in French and German banks' mortgage books. -
The Bank of England said it will increase the countercyclical buffer by 100bp for UK banks after disclosing the results of its latest stress test this week. As the sector performed well in the test, the new capital requirements are being interpreted as a ‘Brexit buffer’ to help institutions withstand the risk of economic turmoil at the end of 2020.
-
HSBC has named two bankers as global co-heads of its debt capital markets team, replacing Jean-Marc Mercier. It is also planning to open two new desks.
-
Liquidity in securitizations is better than in almost all other credit assets classes in Europe, with auto ABS and UK prime RMBS trading on tighter spreads than even covered bonds, analysis from Bank of America’s research team shows.
-
Spreads in the financial institutions bond market have tightened as investors pack their bags for the Christmas holiday period, but bankers warn that this does not necessarily reflect how conditions will look in the new year.
-
The covered bond market will enter 2020 on the front foot, supported by a wave of favourable forces such as the European Central Bank’s Asset Purchase Programme and low interest rates.
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
Sub-sections
Comment