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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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◆ Austrian lender opts for longest maturity considered ◆ Market participants debate impact on broader market ◆ 'Minimal' new issue premium but slim pick-up over sovereign more notable -
◆ Praise from bankers away from transaction ◆ Deal launched into market 'that wants to buy AT1s' ◆ Post-CPI spike in US Treasury yields not viewed as game changer
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◆ Strong appetite for sub-benchmark pair ◆ Julius Baer issues in dollars after no replacement of Swiss franc AT1 last year ◆ Iceland’s Landsbankinn debuts in international AT1 market
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◆ Limited attrition and premium deemed success ◆ Issuer offered ‘something a bit different’ on busy day ◆ New bond aimed at early refinancing
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◆ French leasing company Ayvens limits book attrition ◆ Signs other FIG issuers ‘becoming less aggressive’ when pricing ◆ BNP Paribas adopted similar strategy
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◆ Orders hold to finish several times subscribed ◆ Premium level debated ◆ Investors lured by attractive spread and rating
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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