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Unsecured issuance absence in euros and sterling resembles past market shock closures, but broader markets remains open
Both deals were executed within a week, despite a heavy pipeline
◆ Three companies push through single tranche deals ◆ Vestas takes the biggest book of the trio ◆ Issuers cough up extra concessions
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European banks’ absence from primary market is ‘different this time’
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
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Canadians looks to sterling as dollars get ‘more challenging’ -
◆ Four deals got done 'fine' ◆ Close Brothers scores 'amazing' success a year after pulling a deal
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◆ Two issuers and two strategies ◆ Spread to differentiate as 'incremental fatigue' sets in ◆ Mixed expectations for June
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◆ Spanish firm goes for price over size ◆ Slim 10bp concession needed to seal the deal ◆ Book builds appearing slower as the week progresses
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German, Norwegian and Italian deals were successfully priced on Wednesday but lacked sparkle
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The EU’s 2042s have scope to perform against surrounding issues
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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