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◆ UK building society actively funding across markets and formats in the past four months ◆ Strategic sterling capital deal proactively manages AT1 stack ahead of call ◆ Senior non-preferred euro bond becomes joint tightest UK bank bond at the tenor since 2021
◆ Stability leads to third day of FIG sterling issuance ◆ Rabo prints its first tier two four years ◆ BBVA completes first sterling senior bond since 2020
◆ Follows similar deal from regional peer Swedbank ◆ But earlier bond was already trading wide of reoffer ◆ Pricing prioritised, says banker off deal
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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The Basel Committee on Banking Supervision has appointed Pablo Hernández de Cos, governor of the Bank of Spain, as its new chair. He takes over as the committee looks to reflect on post-crisis regulation. -
Emirates NBD has picked banks for a bond in the additional tier one format, aiming to be the second such deal from a Middle East bank this year.
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The European Central Bank said on Thursday that it would launch a third series of targeted longer-term refinancing operations (TLTRO III) from September 2019, surprising market participants who expected the central bank to hold off on announcing the details of a new bank funding programme.
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Intesa Sanpaolo is set to return to Japan to sell a second series of securities in the Tokyo Pro-Bond market, after opening the market for the first time for Italian issuers in February 2018.
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Bank of China paid a visit to the euro bond market on Wednesday, raising €500m through its Paris branch. It was just the latest Chinese financial institution to fund in the currency.
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Two emerging market borrowers familiar to investors returned to the Swiss franc market this week, injecting some geographical diversity into the sector.
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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