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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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◆ BPCE attracts €5.3bn, Navarra €3.5bn ◆ Small concessions to fair value and govvies ◆ Longer dated Spanish deal lands inside higher rated French name -
◆ High spread attracts credit focussed accounts ◆ Strong demand for covered return ◆ Deal spotted 5bp tighter in secondary
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◆ First Canadian tier two in euros since 2008 ◆ How TD alleviated concerns surrounding its profitability ◆ Issuer achieves 'competitive' diversification
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◆ Danish bank brings unusual M&A financing to FIG market ◆ Senior non-preferred and tier two issuance needs have doubled ◆ Will deploy 'very rare' senior and tier two combo
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◆ No pick-up offered to French govvies ◆ Deal lands through fair value ◆ Investors still eager to pick up paper
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◆ Specialist CRE lender raises capital to replace AT1 it kept extending since 2020 ◆ Outcome seen as positive for banks involved in the CRE lending ◆ Dollar funding comes some 300bp below euro AT1 coupon
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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