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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
Four banks brought dual tranche covered bonds in two days this week, to avoid being squeezed in congested market
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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Berlin Hyp on Monday launched its first preferred senior bond in green format. The German issuer chose a 10 year maturity and quickly attracted orders, supported by an investor community that follows the bank’s frequent green issuance. -
Fitch is forecasting a negative outlook for the issuer ratings of some of the largest lenders in the Netherlands, warning that the early introduction of a risk-weight floor for mortgage assets could weigh on the country’s banking sector through additional capital demands.
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HSBC’s head of UK investment banking has resigned as the bank continues to reshuffle its senior ranks.
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Barclays’ corporate and investment bank exceeded profit expectations in the third quarter, the bank showed on Friday, helped by a mix of better performance across markets and banking, the devaluation of sterling, and income from treasury sales.
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Berlin Hyp announced on Friday that it intended to sell a preferred senior bond in green format. It is the second German bank this week to disclose intentions to market a bond, following LBBW.
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Shanghai Pudong Development Bank Co priced a $300m floating rate note (FRN) at just a marginal premium over the curve of the big four Chinese lenders.
Polls and awards
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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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