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◆ Deal follows same structure as SEB's Monday trade ◆ Market conditions made for 'easy' go/no-go decision ◆ Low new issue premium
◆ Swedish lender prices in line with Nordic banks' trading levels ◆ One of the tightest five year prints since early 2022 ◆ Funding completed ahead of expected supply from higher spread issuers
French bank could make its debut in 2027 after it acquires GE SCF later this year
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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◆ Deal takes €250m more than targeted ◆ Slim premium paid for duration ◆ Investors still happy to buy despite longer tenor -
◆ Slovenia debut emblematic of issuers tapping Japanese market despite carry trade chaos ◆ Being all things to all investors in the covered bond market ◆ Corporate issuers keep it short and sweet
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A long-dated subordinated deal and a shorter dated senior were this week's highlights
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Toronto Dominion plays fair with FRN investors with matched pricing
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Return of US market set to turbo charge European FIG bonanza with AT1 revival
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◆ Benign primary market offers funding to big and small ◆ Size trumps ESG labelling when it comes to performance ◆ MUFG single note versus Mizuho’s dual trancher
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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