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◆ Deal execution 'straight down the fairway' at historically tight level ◆ Concession paid to compensate for low spread and competing issuance ◆ Higher yield backdrop helps
◆ Deal comes amid competing supply from other European banks ◆ Both EuGB and ICMA green bond standards used ◆ Low new issue premium paid
◆ Big redemption wave and higher yields provide positive tailwind for new issuance ◆ DBS refinances in size ◆ Deka prints a touch inside fair value
Data
The single currency stands out as the most attractive funding source while the US dollar market remains open in size
Some evidence of green price advantage in secondary market, but not primary
Conditions support capital issuance, even though European Commission's report gave no clarity on the future of AT1s
Money centre banks pay to to land jumbo deals at sizes unheard of in euros
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Despite an unexpected and violent widening of spreads on the second trading day of 2024, the unsecured FIG market has moved from strength to strength so far in January -
New covered deals clear with 3bp-5bp NIP despite softer tone, paving the way for less frequent and periphery borrowers to advance their funding
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Croatia's Erste & Steiermärkische Bank next up for CEE FIG as it prepares to add green label to its second senior euro foray
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Two news hires follow several appointments to Alantra's senior ranks in past six months
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◆ Senior non-preferred deal underlines how popular sterling credit is ◆ SG adds duration but pays above euros ◆ New deal boosts diversification drive after $5bn Yankee
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Austrian bank becomes the latest covered bond issuer to ride on the coattails of compatriots success
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Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
The awards recognise the market's leading deals, issuers, banks and other participants
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
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