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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 Single Resolution Board has said that it could introduce ‘bank-specific transition periods’ for bonds that have been issued under English law and would otherwise cease to count towards the minimum requirement for own funds and eligible liabilities (MREL) after Brexit. -
The Hong Kong arm of China’s Founder Securities priced a small two year bond on Friday, in a deal that saw the syndicate group rejigged significantly since the mandate announcement in mid-October.
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The Republic of Slovenia has priced the flotation of Nova Ljubljanska Banka at a final offer price which values the bank at €1bn, fulfilling a commitment to privatise the bank before the end of the year.
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Yorkshire Building Society (YBS) broadened its investor base on Friday with its first sterling covered bond in six years. The deal was set to price in line with a similar five year Sonia-linked bond issued this week by Coventry Building Society but with less demand. Even so, supply hopes remain alive.
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DBS Bank is planning a roadshow ahead of its first dollar covered bond in over three years, and the first from a Singaporean bank since February 2017. The expected deal follows two large Canadian benchmarks and shows that dollar covered bond funding is becoming more compelling than euros.
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China Development Bank Financial Leasing Co (CDB Leasing) raised $400m through its aviation leasing arm on Thursday, paying around 10bp of new issue premium for a three year floating rate note.
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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