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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
Data
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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More than $30bn raised as banks turn to primary market after quarterly earnings announced -
Investors and dealers will be able to trade European govvie baskets
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◆ Bankers debate new issue premiums ◆ Basis less favourable for reverse Yankees after US jitters ◆ European national champion still awaited
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Regulator warns of ‘imprudent approach’ to capitalising some financings
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◆ BPCE attracts biggest book since February ◆ Long five year appeals to wide range of investors ◆ Pick-up paid over secondaries and OATs
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◆ National champion expected to reopen market ◆ Investors could prove 'selective' ◆ Premiums to factor in higher transaction costs
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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