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◆ 'Moderate' oversubscription levels ◆ Belfius offers higher NIP for larger size ◆ SpareBank achieves tighter pricing on green five year
◆ Higher spread, higher book than tighter priced SP deals ◆ Large French supply expected in the second half of year ◆ Small premium paid
◆ Strong market conditions for the asset class ◆ New issue premium debated with pricing in reach of fair value ◆ Largest BNZ covered bond since at least 2023
Data
Capital deals and a tight Nordic senior print point to what lies ahead for issuers
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
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After recent issuers choose size over pricing, HSBC prepares a rare visit with an expected ‘tight’ five year -
◆ Only 10bp-15bp needed to seal sophomore euro sale ◆ Little investor attrition as interest for the format grows
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◆ Spanish bank adds dollar AT1 to 2023 sub debt mix ◆ Deal attracts 'encouraging' European support despite recent local market outing
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Nystedt to return to Stockholm after two years in New York
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Banks are getting busy refinancing additional tier one — could even UBS issue?
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◆ European and Asian issuers lead the charge as Barclays takes size◆ Global funding conditions shift in favour of dollars ◆ UBS returns to bond market for the first time after Credit Suisse takeover
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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