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'Conducive' issuance conditions allow foreign banks to raise more single US market visit
◆ Sixth bank in February to print long-dated SNP tranche ◆ Massive €4.3bn book drawn to 4.125% coupon ◆ Visible concession attracts investors
Citi prepares consumer ABS from Abound forward flow
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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Swiss lender took the maximum it could out of the local market -
Markets have become tricky and treacherous again
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The deal appealed to asset managers looking for ‘spreadier products’
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◆ Bankers away from syndicate praise the outcome ◆ ‘A good test’ for next week when volumes are expected to increase ◆ Recent volatility reflects ‘recalibration, not reassessment’ of risk
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Investors pledged over €875m of orders for the sub-benchmark sized deal
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◆ Investor demand for FRNs is ‘not something you would expect’ ◆ Rare callable format works for issuers ◆ Money market and short credit funds among the buyers
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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