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Banker is moving to Greece as focus grows in connecting its capital markets and banking sector to international investors
◆ 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
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 size despite lower line availability ◆ Premium paid over comparable bonds ◆ Benchmark SpaBol’s second deal of 2024 -
◆ Next to no premium needed for capped sale ◆ Demand holds firm despite price tightening ◆ Popular deal broadens investor base
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◆ Market open to all ranks of borrowers ◆ ING gathers €2.75bn funding at 5bp NIP ◆ Cajamar shows smaller borrowers can print flat to FV
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◆ Lower tier issuer to offer subordinated paper after major FIG issuers print ◆ Aims to increase capital with a second deal this year ◆ Allianz aims for broad demand with dollar tier two
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BNP Paribas has appointed a new head of corporate broking while the co-head of Deutsche Numis’s London-based financial institutions group has stepped down amid a series of top level moves in UK investment banking
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◆ Why benchmark issuance has resumed earlier than usual ◆ What lies ahead for capital markets ◆ African issuers switch out of loans to bonds
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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