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◆ New deal to replace AT1 from October 2020 ◆ Resistance to tight pricing building ◆ Market watches the 300bp euro reset barrier
Market participants debate 300bp 'soft barrier' for AT1 resets as banks probe ever-improving cost of capital
◆ Market conditions made going ahead an "easy decision" ◆ Two-year FRN priced flat to fair value ◆ Floaters' secondary liquidity debated
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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
Late-week surge shows investors remain hungry for paper despite macro volatility
Classic January new issue volumes as barely there premiums come into vogue but US banks threaten to crowd out Europeans
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Credit market conditions strong as rates demand slows -
Swedbank’s corporate finance and DCM high yield teams move to renamed entity
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◆ Tuesday brought 'first proper correction' for European FIG bonds this year ◆ But NN sails ahead with tight pricing ◆ Pays some new issue premium due to worse sentiment and larger €1bn size
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◆ Athene prints £250m off £255m peak orders ◆ Spread lands at top of guidance ◆ Short-dated FRN a 'defensive trade'
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◆ Rates and geopolitical volatility weigh on investor sentiment ◆ Fast money investors show price sensitivity ◆ Low single digit premium paid
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When an investment bank splashes out on a big money rockstar hire, it’s not just a transaction or a rejig of the org chart; it’s a public statement of intent as well as a high profile bet that comes with a lot of buzz, bravado, and backbiting
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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