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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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Crédit Mutuel Arkéa sold a new tier two against a strong market backdrop on Monday, as the French financial institution spelt out its desire to maintain high credit ratings and capital buffers. -
Danish Ship Finance plans to go on the road before issuing its debut euro covered bond.
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CYBG is set to meet investors this week to gauge demand for a new additional tier one. With HSBC Holdings also selling a senior bond in dollars on Monday, UK financial institutions are returning to the market for the first time in four months amid fading fears about a worst case scenario for Brexit.
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Bausparkasse Schwäbisch Hall (BSH) could soon become the first German Building Society to issue a benchmark Pfandbrief. GlobalCapital speaks to Rainer Eichwede, head of finance controlling at BSH, at the 13th LBBW European Covered Bond Forum in Mainz.
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The capital markets look ready to assume more insured risk related to terrorist attacks, after UK reinsurer Pool Re, which has a government guarantee, placed the first catastrophe bond specifically covering the peril. The organisation's equivalents in other countries could consider issuance, writes Jasper Cox.
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A group of nine NGOs, trade unions and other civil society groups have got together to produce an independent white paper setting out in detail how they believe the European Union’s Sustainable Finance Action Plan should progress. It calls on the EU to push ahead with the Plan, only some of whose targets have been acted on so far, and to take it further and deeper.
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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