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◆ Banker said deal offered little new issue premium ◆ Euro transaction on Tuesday triggered the deal ◆ Lloyds' last sterling covered was issued in October 2025
◆ Second foreign FIG deal in Swissies since the start of Iran war ◆ Market offers quick execution despite uncertainty and volatility ◆ BPCE funds close to its euro level
Sponsor Citi acquired the loans from Abound through a forward flow agreement
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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After the UK finally ratified its MoU with the EU this week, Paris is ready to lay claim to being the bloc's financial capital. But the EU must complete its much-delayed Capital Markets Union if it is to hold on to its newfound status -
New standards leave out impact but require transition plans and Scope 3
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◆ Foreign trio raises $6.5bn this week as Mizuho eyes $2bn ◆ Dollar takes ‘sweet spot’ for major banks over euros ◆ Sentiment for Yankee issuance keeps improving
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Active sales of ECB’s Covered Bond Purchase Programme touted
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◆ High demand for debut labelled FIG debt ◆ Two factors behind the single digit concession ◆ NordLB to break senior issuance hiatus in green
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◆ New name complements euro funding with inaugural Swissie sale ◆ Currency debut lands flat to euros despite wider spread ◆ 100bp needed to seal size
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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