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◆ Deutsche goes big as with AT1 ◆ Third AT1 in a row underlines a conducive market for strategic capital funding ◆ Pays premium, but spread pushed under 400bp
◆ Issuer's joint-tightest spread since 2020 ◆ Constructive backdrop helped execution, says lead ◆ Busy primary market expected on Tuesday
◆ Deal benefits from limited size, green label and short tenor, says lead ◆ Small NIP paid ◆ BPER involved in complex Italian M&A
Data
Higher new issue premiums make deals shine amid market volatility
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
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Greg Guyett has shaken up the management of HSBC’s global banking division in a move aimed at streamlining coverage and boosting collaboration across divisions and products. -
More than half of Santander’s profits came from Latin America and the US in the last quarter, amid a plan to make savings in Europe and expand across the Atlantic.
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The head of FIG origination and syndication at NordLB has resigned and is understood to be heading for Landesbank Hessen-Thüringen (Helaba), where he will have an expanded role.
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Spain’s Banco de Sabadell surpassed expectations with its first visit to the non-preferred senior asset class on Tuesday, tightening 35bp during the pricing process and taking away €1bn of new funding.
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De Volksbank has mandated joint leads for a non-deal roadshow to market its green bond framework. At the same time Berlin Hyp has boosted reporting standards on its green portfolio.
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Bank of America sold two tranches of senior debt totalling €2.5bn in the euro market on Tuesday, joining several of its North American peers in obtaining competitive funding costs across the pond.
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Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
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The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
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