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◆ Sixth bank in February to print long-dated SNP tranche ◆ Massive €4.3bn book drawn to 4.125% coupon ◆ Visible concession attracts investors
◆ Two steps to terms debated ◆ Priced flat to fair value or even with negative concession ◆ Investors split on long-dated holdco supply
◆ Norwegian bank increases size ◆ Issuer meets spread objective ◆ Banker said he drew confidence from secondaries
Data
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
Late-week surge shows investors remain hungry for paper despite macro volatility
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◆ LBBW to price senior FRN soon ◆ A Friday euro FIG deal ‘cannot be ruled out’ ◆ Crédit Agricole makes ‘smart move’ to tap US dollars -
Senior could be in vogue for issuers amid covered weakness but bankers find reasons for optimism and seek first mover
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DCM team responded to issuers’ heightened need for advice on capital this year and plans to expand in this competitive area
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Missing Italian giants expected back in the OBG market next year
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◆ The sheep and the goats in UK water ◆ How EM loses assets but gains deals ◆ US corporates lean to euro bonds
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For the SRT Series finale, MUFG's head of FIG for the DACH region discusses the future of the market and her career to date
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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