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◆ Strong demand for capital supports two major banks' simultaneous deals ◆ Deutsche goes big and pays concession ◆ SG restricts size for a punchy print at fair value
FIG borrowers flood dollar markets as Westpac's SEC exit strategy pays off
◆ Issuer lands in 'the place to be' amid strong demand for covereds ◆ Achieves its largest covered book since at least 2023 ◆ After 7bp tightening the bond was spotted another 2bp tighter to erase new issue concession
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Funding across all parts of the capital structure is available with issuers likely to prioritise unsecured borrowing
With masses to fund and spreads super-tight, banks will race to market, but central banks are expected to tighten
Banks could rush to issue as fast as possible, taking advantage of remarkably tight spreads
Growing pipeline and fiercer competition had threatened to shake the darling bonds of May
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◆ BofA taps market with a perp in post-earnings appearance ◆ Varied issuance from US and Japanese insurers ◆ Citi the only large US bank not to have issued in dollars after quarterly results -
Pipeline still bottled up but deals could flow once first issuers shake themselves out
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◆ Nordea and CM Arkéa resume European senior funding absent since 'Liberation Day' ◆ Nordea likely to serve as floor for spreads in current market ◆ Arkéa goes slightly longer in its first deal of the year
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◆ Undersupplied insurance sector lures buyers ◆ Bankers debate best comparables ◆ AT1 market reopens (sort of)
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◆ New investors take part in 1.5 day sale ◆ Deal lands flat to peers ◆ Picking the right window 'difficult'
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◆ Bill Ackman’s firm offers chunky spread ◆ But investors only offer modest demand ◆ Company only has one other euro trade outstanding
Polls and awards
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
Don't miss your chance to choose this year's Bond Award winners
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
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