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◆ Capital trade attracts investors for juicy return in tight market ◆ Slightly longer 11NC6 structure chosen for triple digit spread and 4%-plus yield ◆ Deal cleared at low single digit concession
Siena deal is backed by a $1.5bn portfolio
French bank opts for AT1 while Lloyds progresses senior funding plan
Data
The single currency stands out as the most attractive funding source while the US dollar market remains open in size
Some evidence of green price advantage in secondary market, but not primary
Conditions support capital issuance, even though European Commission's report gave no clarity on the future of AT1s
Money centre banks pay to to land jumbo deals at sizes unheard of in euros
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◆ Issuer looking at long three or five years ◆ ESG label should be ‘helpful’ ◆ KHFC’s third public bond this year -
◆ Head of treasury says Arion tender offer was to ‘incentivise’ investors into new deal… ◆ …which is larger and has a lower spread
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First bank deal from the country since a spate of brutal restructurings at other banks in 2009
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Move reflects huge needs for water investment as climate change bites
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◆ Eurobank’s senior green debut becomes largest Greek bank bond in recent memory ◆ After peer Piraeus issued biggest capital deal at lowest yield ◆ Deals priced versus swaps on the back of improved investor perception
Polls and awards
Cast your vote now to decide this year's covered bond award winners and express your views in our new market survey
Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
The awards recognise the market's leading deals, issuers, banks and other participants
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
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