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The covered bond market gathered in Seville to celebrate the deals, institutions and individuals that have made their mark over the past year
This year's foreign FIG issuance in dollars is already more than 7% higher than all of 2025
First defence labelled bond from outside of Europe is likely to be followed with more Canadian issuance
Data
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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EU banks have drastically reduced their non-performing exposures over the past year, and the weakest lenders in terms of provisioning shortfalls are not from Europe’s periphery, according to research by Axiom Alternative Investments. However, two banks named as some of the worst performers disagreed with this label. -
Following a tough year for senior debt valuations in 2018, bank debt investors are becoming increasingly interested in taking up positions in this part of the capital structure.
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First Abu Dhabi Bank (FAB) printed its $850m five year sukuk on Tuesday, becoming the first bank to sell an international sukuk intraday.
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LBBW this week issued a long three year public sector Pfandbrief at the tightest spread of the year, showing just how receptive investors are to supply, particularly for strong names in short tenors.
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BNP Paribas went to sterling and euros on Wednesday to print a senior non-preferred bond. The French bank was heavily subscribed for both, allowing it to tick off another €3.38bn from its €14bn funding plan in the asset class for the year.
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BNZ International Funding proved popular when it surfaced with a short-dated senior deal in the euro market on Wednesday. It had waited for UK MPs to vote on the terms of the country’s withdrawal from the EU before looking to investors for the funding.
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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