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'Conducive' issuance conditions allow foreign banks to raise more single US market visit
◆ Sixth bank in February to print long-dated SNP tranche ◆ Massive €4.3bn book drawn to 4.125% coupon ◆ Visible concession attracts investors
Citi prepares consumer ABS from Abound forward flow
Data
Nykredit blasts through 300bp barrier, pushing investors up the capital stack
Market participants debate 300bp 'soft barrier' for AT1 resets as banks probe ever-improving cost of capital
Favourable market conditions have made raising debt like 'fishing with dynamite' for bank issuers. But concerns are mounting about volatility ahead
French bank scoops top spot overall, while BNP Paribas leads in senior and Crédit Agricole in capital
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◆ Deal lands after lengthy roadshow ◆ Investors pledge over €1.15bn of orders for sub-benchmark print ◆ Single digit concession offered -
◆ Spread tightening and premium paid were unusual ◆ Strong investor quality as fast money stays away ◆ Bankers do not expect repeat of strong deal
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◆ New norm established for NIPs and spread tightening ◆ Some investors ‘burnt by govvies’ require more premium ◆ Rival bankers agree on NIP paid
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Covered bond editor Frank Jackman joins George Smith to discuss Paragon’s innovative buy-to-let covered bond, before George and regular podcaster Tom Hall discuss the prospects for UK bridging RMBS, Italian ABS pricing and capital treatment of subscription lines
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Estonian lender Coop Pank could also make its covered debut on Thursday
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Banks have plenty of buy-to-let assets on their balance sheets; issuers should follow Paragon's lead for as long as investors and regulators allow
Polls and awards
The covered bond market gathered in Seville to celebrate its standout deals, institutions and individuals
Last chance to vote for the best winning deals, individuals and organisations in the covered bond market
The leading banks, issuers, individuals and other market players were named at GlobalCapital's flagship industry dinner in London
The winning deals and organisations will be revealed at our gala dinner in Seville on September 18
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