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◆ More than €20bn of orders at peak ◆ Up to 10bp of concession on each tranche, says rival banker ◆ May push European banks to pay more to get deals done
◆ Macquarie tightened by 6bp to 27bp over ◆ Banker said this represented ‘small new issue premium’◆ Bankers said investor demand for covereds is cooling
Seniors only from BPCE, but BBVA puts full capital stack on offer
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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◆ Donald Trump’s threat to ESG finance in the US ◆ Why ‘woke capitalism’ won’t be put to bed ◆ UK auto ABS faces up to compensation crisis -
Hot market conditions encourage pre-funding, amplifying borrower dilemma ahead of busy January
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Pecking order changes as some challengers' investment pays off
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Host of lenders sell mortgage pools in capital optimisation drive, with more expected next year
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HSBC leads Yankee charge as banks took advantage of tight spreads to bring forward 2025 funding plans and fulfil some of their riskier commitments
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Interest from assets managers led the German bank to issue a rare fixed rate sterling deal
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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