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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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◆ New investors drawn to RBC euro FRN ◆ NatWest gains from lots of liquidity ◆ Market is 'keen to rally' ahead of US election slowdown -
◆ Investors pull orders after sharp tightening ◆ Familiar structure offers 'nothing groundbreaking' ◆ Other rival bankers say deal went 'absolutely well'
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◆ Three banks show keen desire to close strategic capital deals before November ◆ 'Outsized bid for high beta' continues to drive buyers to tightly priced capital ◆ Belfius prices in euros and SEB goes for dollars
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Changes follow arrivals of Raghavan and Mangla from JP Morgan
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◆ Large order book as rates curve lures buyers ◆ Double 'scarcity' value also a factor ◆ Bankers debate new issue premium
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◆ French govvie performance to support sentiment ◆ Recent French covered bonds spotted tighter ◆ Fair value considerations revealed
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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