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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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Deal will be the first in sterling since early March and suggests senses of stability -
◆ A 'ballsy move by a UK name' to reopen euro sub ◆ Orderbook balloons to big size ◆ Banker views on concession vary
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◆ FRN concessions have jumped as much as 30bp ◆ Bankers question if European banks need to pay similar NIPs ◆ Euros could offer 'steadier market' for US banks
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Austrian bank will not call its AT1 with the lowest reset rate but it will redeem another it had been extending since the eruption of the war in Ukraine
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Issuers are not under pressure to rush into a volatile market
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Demand up since 'liberation day' as French firms satisfy bid for quality
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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