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Market participants debate 300bp 'soft barrier' for AT1 resets as banks probe ever-improving cost of capital
◆ French bank has had a busy 2026, issuing across currencies and asset classes◆ Cross-currency rates at 'optimal level' for diversification play, lead manager said ◆ Fair value debated
Very few, if any, Gulf issuers are looking at sterling bonds
Data
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
Late-week surge shows investors remain hungry for paper despite macro volatility
Classic January new issue volumes as barely there premiums come into vogue but US banks threaten to crowd out Europeans
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◆ Debate over concessions on non-preferred dual trancher ◆ Longer end draws smaller book ◆ Spar Nord Bank debuts green bond -
◆ The 10 year to be closely watched amid weak duration bid ◆ Eyes on issuer's loyal following ◆ Coventry preps euro five year
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◆ CIBC seen 'dismissing own curve' to price tight deal ◆ More scope for Canadian issuance, say bankers ◆ KHFC draws less demand
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◆ Issuer takes advantage of the duration bid ◆ Print close to fair value, if not inside ◆ Smaller compatriot Spar Nord Bank readying green debut
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◆ Singaporean bank prints more than originally targeted ◆ Slim premium paid for size ◆ Deal bought forward to avoid competing supply
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Favourable conditions could encourage pre-funding for 2025
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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