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◆ Sentiment improves after ceasefire extended ◆ Handelsbanken nears record tights ◆ Jyske Bank attracts €3.3bn of orders
◆ 48bp over mid-swaps spread for five year SP paper unbeaten since 2020 ◆ Nordic banks first to exit earnings blackouts ◆ New issue premium debated
Deal raises questions about whether transaction was done at arm's length
Data
Banks could rush to issue as fast as possible, taking advantage of remarkably tight spreads
Growing pipeline and fiercer competition had threatened to shake the darling bonds of May
Uncertainty in Middle East peace negotiations may reignite alarm, but investors remain willing as long as issuers pay to play
Tweaks to trading book rules will be next stage of competition
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◆ 'Strong demand' supported tight execution, DCM banker said ◆ Landeskbank sought to expand international participation ◆ Concession debated -
◆ Dutch lender's latest €2.5bn senior holdco follows Aussie domestic senior foray ◆ Comes a day after $1.5bn AT1 and before green RMBS ◆ Demand for senior unsecured assets is strong as ING clears big funding with limited, if any, new issue concession
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◆ OTP Mortgage Bank order book outstrips previous demand ◆ Tightening in line with recent performance, says banker ◆ OTP becoming 'more established' as covered issuer
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◆ Issuer tightens spread by 8bp ◆ Deal prices outside comps ◆ Lack of Japanese covered bond law affects demand, says banker
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◆ Investors eager despite lack of new issue premium ◆ Alpha goes to longest point on Greek banks' maturity curve to give higher yield ◆ Ibercaja's rarity works in its favour
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◆ Final book tops $6bn ◆ Higher beta paper 'clearly in demand,' syndicate banker said ◆ NIP debated
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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