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◆ '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
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◆ Dutch lender prints in receptive market for smaller issuers ◆ Buyers have returned its bonds after August sell-off ◆ Single digit new issue premium -
◆ ESG accounts provide early orders ◆ Granular treasury accounts fill up book ◆ Deal comes close to fair value
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◆ Portuguese lender attracts 'absolute' spread buyers ◆ Pricing seen flat if not inside fair value ◆ Appetite for 'underweight' Portuguese risk helps
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◆ T+1 is coming but is it worth the hassle? ◆ Despite appearances, bank bond issuers are not getting it all their own way ◆ Where the EU slots into the reshuffled SSA pack
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Banker brings wealth of experience from capital market roles
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◆ RBC leads European banks to funding in the US ◆ Once JP Morgan starts the third quarter bank earnings season local FIG bond wave could materialise ◆ This could keep market busy until US election
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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