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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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◆ Investors lodge big orders so as not to miss current spreads and yields before rate cuts ◆ This sentiment especially strong for sub debt ◆ Mediobanca also issues €300m tier two that was 4.5 times covered -
Smaller book and less tightening than other recent OBG transactions but international buyers play covered versus senior spread
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Latest case involves BNP Paribas’s dollar Disco which it will call. BNPP will disqualify similar legacy euro notes from counting as tier two capital
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Italian bank hopes to build on compatriots' recent success
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◆ Super sterling welcomes corporate first timers ◆ SSAs switch tactics in UK market ◆ Bill on bonds
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Market recovers from shaky start as smart pricing draws huge order books
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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