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◆ Tightest callable Italian tier two since 2020 ◆ UniCredit year-on-year spreads continue to tighten ◆ 80% of allocations made to 'solid real money' accounts
◆ No attrition on insurance arm's €500m no-grow 2036 deal ◆ Ample demand from buy-and-hold accounts ◆ 'So much cash available' despite US-Iran peace deal failure
◆ Largest Czech bank tightened spread by 8bp ◆ Subsidiary of Erste Group announced mandate on Monday ◆ 'Arithmetically, there is no FV', a banker said
Data
Funding across all parts of the capital structure is available with issuers likely to prioritise unsecured borrowing
With masses to fund and spreads super-tight, banks will race to market, but central banks are expected to tighten
Banks could rush to issue as fast as possible, taking advantage of remarkably tight spreads
Growing pipeline and fiercer competition had threatened to shake the darling bonds of May
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◆ Big demand despite arriving a day after ING deal ◆ Minimal NIP for size ◆ BNP's first tier two in 2.5 years -
◆ Deal Berlin Hyp’s second benchmark of the year ◆ Some investors had their fill of Berlin Hyp ◆ Buyers look towards higher spread senior market instead
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◆ ‘Stellar’ outcome say rival bankers ◆ New issue premium ‘makes sense’ given the issuer and beta ◆ Accounts are ‘not afraid’ to engage in August primary market
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◆ German lender readies its first benchmark since January ◆ Deal sized to be capped from the outset ◆ No 'rush' of further supply coming
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◆ German deal is first syndicated benchmark in five weeks ◆ Slim premium paid to secure size ◆ Issuer’s covered bonds are best German performer year to date
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Swisscom, DNB Bank and City of Zurich all go green on return to Swiss franc market
Polls and awards
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
Don't miss your chance to choose this year's Bond Award winners
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
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