Top section
Top section
◆ Largest Australian tier two tranche since 2020 ◆ Pays slightly higher NIP than earlier deals ◆ 'Novel' structure attracts high quality order book
Deals price tightly to Western European peers, with high-spread Icelandic banks performing the most
◆ British lender fixed spread and deal size from outset ◆ Order book closed at over two times the deal size ◆ Fixing terms enabled faster execution, the lender 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
More articles/Bond Comments/Ad
More articles/Bond Comments/Ad
More articles
-
◆ German bank starts touring to showcase its new Australian dollar programme ◆ Debut Kangaroo may follow soon ◆ A benchmark deal has potential for record size in currency -
◆ Swedish supply down in euros ◆ Domestic market offers better alternative ◆ Euro issuance to pick up in the autumn
-
Tight pricing for Korean bank thanks to strong demand for floating rate notes
-
◆ Bankers on and off deal agree NIP ◆ Nationwide has 'luxury' of flexibility ◆ Rarity value important
-
New report follows regulator's annual recommendations on European banks' capital monitoring
-
Safe senior bonds are all well and good — but refinancing capital will show just how far investors' appetite for property-heavy banks goes
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
Sub-sections
Comment