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European banks’ absence from primary market is ‘different this time’
Underlying concerns among investors and issuers about covered bonds force them to the sidelines
◆ Hyperscaler sets new standard for European corporate bond market ◆ What it will it take to get a bank to issue in euros again ◆ Iran war could reshape ultra-competitive Gulf capital markets
Data
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
Market participants debate 300bp 'soft barrier' for AT1 resets as banks probe ever-improving cost of capital
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Orders came in when the spread was set in line with initial guidance -
The UK must avoid losing ground to the EU and private actors in the digital currency revolution
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Fast money covered shorts following heavy selling two weeks ago
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French banking group invests in the European rating agency, joining Axa and other European financial institutions
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Shorter deals from NordLB and KBC fared better than Baca’s 2029 note
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Limited issue size and the floating rate lure investors to the pre-CPI deal in an otherwise quiet day for 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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