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Higher new issue premiums make deals shine amid market volatility
◆ Strong conditions seized to print first AT1 in a year ◆ Comes more than a year ahead of next call ◆ Tight valuation, high yield leads to the bank's lowest outstanding reset spread
Citigroup and Wells Fargo hit positive post-Fed market with a $18bn salvo
Data
Conducive credit markets and tight spreads to lure issuers as risks loom on the horizon
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
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In the space of just a few weeks, two Greek banks have made their first sales of capital instruments since the financial crisis: Piraeus Bank in June, followed by National Bank of Greece this week. With debt market valuations at all time highs, some market participants say that it is now or never for Europe's weakest financial institutions. David Freitas reports. -
ING’s Boekhout to head Commerz corporate biz — ICBC loan syndication head resigns — Ex-Barclays’ Wright joins S&P
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NatWest Markets has published a free online calculator market participants can use to work out compounded daily Sonia — the rate that looks set to replace sterling Libor from January 2022.
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Australia’s bank capital regulator has refused to back down from requiring the country’s largest banks to meet new loss-absorbing debt targets with tier two bonds, raising the prospect of a wave of supply over the next four years. The question now is: how much will it cost them? Tyler Davies reports.
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Confirmation that the European Central Bank was considering reviving its quantitative easing programme helped give the financial institutions bond market a small boost on Thursday, just as it was starting to show signs of flagging.
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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