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◆ Issuer said deal shows investor preference for short-dated paper ◆ Banker said it benefitted from RBC’s minimal exposure to Middle East◆ RBC’s was the first covered bond issued since the end of February
US banks were the biggest issuers in euros, paying a premium for jumbo multi-tranche trades
ICBC prints multi-currency 'safe haven' deal, yet limited read-across for European markets
Data
Bank issuance expected to resume next week in euros after corporates, dollar market lead
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
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Plotting market turning points is often prone to false starts -
Investors’ aversion to duration shows little sign of abating
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Asian borrowers are finding better funding options in Australian dollars and Japanese yen as higher US dollar interest rates bite
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Whether to push on with supply or take a break divides participants
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Generous concessions and easy tenors made for smooth sailing
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The former Credit Suisse banker will start his new role next week
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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