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◆ 'Tight and attractive valuations' for raising tier two capital ◆ Trade follows ratings upgrade ◆ 5bp of concession
◆ Issuer's largest covered deal at its tightest spread ◆ Banker said Korean lender is ‘well-liked’ by investors ◆ Pricing seen at fair value despite 'scarce liquidity' in secondary curve
Primary action in the US and several banks reporting points to a rebound of euro issuance this week
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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Positive inflows into credit funds are keeping FIG bankers optimistic -
◆ French firm takes €1bn a day before the US goes to the polls ◆ Investors looking for attractive French covered bonds ◆ French deals are tight to OATs despite high spreads
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Domestic names rush to hit the market ahead of expected volatility next week
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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
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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