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◆ US asset manager is a rare name in the bond market ◆ Sterling leg comes alongside triple tranche dollar deal ◆ £9.9bn Schroders acquisition to close in the fourth quarter
◆ 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
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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Olaf Scholz, finance minister and vice-chancellor for Germany, said that there was 'no debate' about the creation of a bad bank in a prospective merger between Deutsche Bank and Commerzbank. He also does not believe that the recapitalisation of NordLB by the association of German savings banks would contravene EU state aid rules. -
Bank of Nova Scotia this week became the third Canadian bank to have hit the dollar market with a debut bail-in bond, as spreads continued to rally.
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Robert Horat, managing director of the Zurich-based Pfandbriefbank schweizerischer Hypothekarinstitute, says he is mystified as to why the pooling model underpinning Swiss Pfandbriefe has not been used as a blueprint for covered bond markets elsewhere in Europe.
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Rating agencies and investors are realising they have more in common than they thought when it comes to environmental, social and governance (ESG) factors. And they are more inclined now to work together than find fault.
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BNP Paribas and Société Générale both announced new plans to slim down their investment banks this week. They posted sharp drops in revenue across global markets operations that were, on balance, a bit worse than those registered so far by the rest of the industry.
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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