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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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◆ Deal the UK lender's largest since 2010 ◆ Little to no premium paid ◆ UK paper in euros pricing close to EU peers -
◆ Dual-tranche offering draws big order book ◆ Concession varied on each leg ◆ 11NC10 structure follows popular JP Morgan trade
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◆ Bankers expect much issuance of insurance capital ◆ Big redemption and capital positoning suggest RT1 preference among borrowers ◆ Achmea underlines trend as it will refi granfathered T2 with RT1
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No competition expected as investors hunger for covered paper across the curve
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◆ New issue concession required after Gilt sell-off ◆ Issuer prices close to euro curve ◆ UK asset manager demand
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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