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Spanish bank's research says heavier-than-normal redemptions in 2026 will pressure euro covered net supply
Corporates crowd top 10 issuers as foreign Matterhorns return
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
Data
Unsecured bonds could become more expensive to issue, covered bonds cheaper
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
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The trade drew good demand after a slow week for covered bond issuers -
◆ Some premium paid to print at size ◆ Deal 'ticked the boxes' for issuer ◆ 'Froth leaving the market' say bankers
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◆ Issuer grabs limelight amid busy session ◆ Rival bankers debate NIP ◆ Duration popular with French issuers
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Bank targets higher yields after disposing of its prime mortgage book last year
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◆ Canadian bank competes in busy session ◆ US dollar equivalence debated ◆ Fast money favours higher yield
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The specialist lender's rare appearance in the market will be for £500m
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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