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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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Banks deemed 'solid' but risks in credit quality and growing non-preforming loans pose problems ahead in weak economy -
Volumes will pick up, say bankers, but volatility will never be far away
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Feedback to FCA calls for a single set of disclosures for retail and institutional investors
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The bank's plan to issue a seven year covered bond sets the stage for likely head to head execution with LBBW
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High net worth Nordic investors have been buying local AT1s as an alternative to equities
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The seven year Pfandbrief will offer the longest covered bond for more than four months
Polls and awards
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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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