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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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◆ Commercial real estate disclosures lag behind residential ◆ Mortgage energy efficiency key to examining transition risk -
◆ UK bank taps home market ◆ Minimal signs of attrition ◆ Specialist UK pension provider Just Group consolidates tier two
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Michael Guarda takes over DCM and syndicate
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◆ Nationwide feeds investor hunger for AT1s ◆ Building society prints close to fair value ◆ HSBC lands a 'fine' sterling senior
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◆ ECBC, ECB and US inflation put a stop to supply ◆ Issuers not missing out by not issuing in sub-par market ◆ Credit is the more appealing sector
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◆ Italian bank returns after years of calls but no replacements ◆ Tight pricing cemented on super-scarcity status ◆ Austria’s Bawag gearing to increase capital with new issue and tender
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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