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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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◆ Investors flock to rare senior sterling sale ◆ 35bp spread move the joint largest of the year so far ◆ Danske joins sterling frenzy with second helping of senior pref -
German issuers lining up themed follow-on new issues
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◆ Second opco Kangaroo deal more than twice covered ◆ UK firm includes floating rate tranche for the first time ◆ Recent deals show the depth of the Aussie dollar
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◆ Second bail-in euro note to also carry a green label ◆ Trade expected on Thursday following a day of investor calls
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Investors are ‘keeping their powder dry’ for September
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Steep rise in yields since mid-July is expected to draw in real money
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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