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Bank issuance expected to resume next week in euros after corporates, dollar market lead
Dollar market shows first signs of life for global FIG issuance
The lack of covered bonds priced this week has focused minds on the the specific requirements of investors and issuers
Data
Shrinking spreads between the two asset classes have left investors asking if the risk of senior debt is worth it
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
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‘Stock and drop’ tactic to cut execution time from weeks to days, closing gap with covered bonds -
Despite shortcomings and pointing out areas for improvement, latest report on IFRS9 shows that default rates were lower than banks' models had indicated
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Green bond framework update gives investors first chance to buy PPs dedicated to funding nuclear energy
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◆ Italian bank gets duration in Yankee market that it cannot reach in Europe ◆ The $3bn deal was its biggest for a decade ◆ Global bid for duration allows it to print longest SP dollar deal this year
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Inverted five and 10 year swap curve means long dated covered bond issuance less attractive than senior format
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◆ Issuer lands £200m deal 62.5bp tighter than initial guidance ◆ Demand continuously grew to £1.4bn ◆ First sterling AT1 since February
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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