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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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Inflationary risks are rising again — luckily central banks are still driving rates south -
Issuers said to have this week 'withdrawn' planned covered bond sales will look at later window
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Busy streak of capital issuance has disgruntled some investors, but bank issuers still have upper hand in a rate cutting cycle
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Investors happy to buy mezzanine slices from portfolio of equitable charges
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◆ September was second busiest month for FIG issuance in 2024 ◆ US insurers raise debt ahead of bank earnings ◆ Banks set to print from second part of October
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The widely expected sell-down in the National Bank of Greece came at a 1.31% discount
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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