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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
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The slide in French government bonds this week raises concerns for the country's banks and companies
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
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The European Central Bank (ECB) is not yet in ‘policy mode’ its president Mario Draghi said on Thursday, refusing to be drawn into speculation around the potential for a third series of targeted longer-term refinancing operations (TLTROs). -
Banco Comercial Português got away an additional tier one bond deal on Thursday, showing demand is present for a risky credit profile, but at a high level. The bond will suffer from higher than average coupon risk.
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South Korea’s KEB Hana Bank has locked up a dual-tranche sustainability bond at zero new issue premium, appealing to investors with its strong credit story and rarity value in the public dollar market.
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Sentiment has changed in the covered bond market. After almost a year of spread widening, a new pricing equilibrium has been reached.
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Four covered bond issuers returned to the market on Wednesday and, in contrast to the start of the year when concessions were 5bp-7bp, none paid more than 2bp.
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SCBC chose to issue its first green covered bond in its home currency this week, saving itself a few basis points compared with euros — where a green covered bond is now considered 'feasible'.
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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