Top section
Top section
◆ 'Tight and attractive valuations' for raising tier two capital ◆ Trade follows ratings upgrade ◆ 5bp of concession
◆ Small NIP enough to attract strong bid for long tranche ◆ Investors get selective amid volatility ◆ Commerz fills out its curve with two points
◆ 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
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
More articles/Bond Comments/Ad
More articles/Bond Comments/Ad
More articles
-
◆ Low redemptions led to lower supply in 2024 ◆ Canadian banks could return to refi ◆ Dollar supply to more than double in 2025 -
◆ Deal meets investor resistance despite higher yield ◆ Offers 'attractive yield' but book drops to just above €750m issue size ◆ German bank to refi early only Landesbank AT1 via tender
-
◆ Follows similar attrition Mediobanca experienced on Monday ◆ Rival bankers give mixed assessment ◆ Jyske Bank senior offering holds up better
-
◆ Deal hits size and price targets ◆ Starting spread catches investors' attention ◆ Small pick up offered over OATs
-
◆ 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'
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
Sub-sections
Comment