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Four banks squeezed $12.5bn of funding into Wednesday's window
◆ Canadian bank last issued covered paper in January ◆ Lead managers picked only one comp ◆ BNS has large covered redeeming on Monday
Underlying concerns among investors and issuers about covered bonds force them to the sidelines
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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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Bank controls have proven far more useful on one side of the Atlantic than the other this year and any regulatory overhaul stemming from the recent debacle in the sector should keep this in mind -
Orders have tumbled for a number of bond syndications recently when issuers have set final terms, which has proved a source of anxiety. But this is no bad trip; rather it is a market operating in a higher state of consciousness
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Bank order book attrition 'consistent' across euros and sterling as investors stop chasing every deal
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Issuers must pay elevated premiums for new euro deals, but pricing still cheaper than dollars
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Issuers plan to reopen the long end but no urgency to do so
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Damien Aellen returns to BNP Paribas after eight years with Credit Suisse
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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