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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
Data
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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Last issue of innovative catastrophe bond series was in January -
David Goode to return for second stint as ANZ's debt IR head
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Covered bonds to dominate issuance as spreads tighten, as senior deals require broader stability
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Elevated premium needed as Canadian bank's reopener opts for size over price
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Is the banking crisis over? - Is additional tier one capital finished? - Rival banks will try to pick off Credit Suisse’s corporate clients
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Bankers in Europe point to concerns stemming from the US banking sector, though latest price moves may affect next week's FIG issuance
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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