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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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Domestic names rush to hit the market ahead of expected volatility next week -
US FIG issuance moves unperturbed across capital structure just days before election
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New issue premiums are needed after a difficult week to sweeten post-US election issuance prospects
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Wider swap spreads provide French covered bonds a buffer against competing SSA levels
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Euro loans could outperform despite offering lower coupon payments than in dollars
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◆ Bund-swap spread hits single digits ◆ Tight levels put pressure on Pfandbrief spreads ◆ Further 'expensive' covered supply unlikely
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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