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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
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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Mortgage reforms that will support Canadian covered demand are coming soon -
Only the second UK BTL issuer with STS label, after Shawbrook Bank
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◆ French government collapse scrambles bond market ◆ What next for French corporate, FIG, covered bond and public sector bond issuers? ◆ ECB Trials on distributed ledger technology: the verdict
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Debutante attracts strong demand as Swiss market gears up for another rate cut next week
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International angle enables both Mexican issuers to draw interest beyond traditional EM buyers
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Issuing senior bank bonds in December is unorthodox but could prove a winning strategy as investors still have plenty of cash sloshing around
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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