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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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◆ Issuer takes £750m with first deal since 2021 ◆ Trade the joint tightest three year deal of 2024 ◆ Small premium paid
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Former head of ECM to oversee DCM, ECM and syndicate
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The spread CEE banks are offering versus the eurozone periphery issuers is attracting investors
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◆ German real estate lender to print first subordinated note in a decade ◆ Crédit Agricole Assurances copmpletes bullet with no book attrition ◆ Insurer uses proceeds to buy back two perpetual notes
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◆ UK lender takes £500m ◆ Deal land single digits back of recent supply ◆ No-grow size supported demand
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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