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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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The European Parliament and the European Council have reached an agreement on a set of measures to tackle non-performing loans in the banking sector, broadly backing the European Commission’s proposals from March. -
Supply of bonds issued by European insurers has been driven by firms merging, demerging and re-orientating, keeping investors and bankers on their toes. Will the conditions persist in 2019?
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The European Central Bank’s withdrawal from the covered bond market will reverberate through 2019. Amid tougher markets, issuers will also have to grapple with substituting the enormous handout from the targeted longer-term refinancing operations (TLTRO II).
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The Covered Bond Directive is reaching a critical stage that will determine the market’s form and shape for years to come. Luca Bertalot, general secretary of the European Mortgage Federation and European Covered Bond Council, discusses this — and other key factors that will drive the market in 2019.
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Capital instruments issued by financial institutions under previous regulatory regimes was a topic of contention in several instances this year. With regulators set to lay down further positions, legacy capital will remain on the agenda in 2019.
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Supply of MREL-eligible debt is expected to boom in 2019, when all European banks will finally be in a position to issue senior bonds that count towards the requirement. But a full range of issuers will be competing to issue these new and more expensive instruments at a time when markets are becoming increasingly volatile. Stand by for pulled deals and creative funding strategies.
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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