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◆ First unsecured euros FIG deal in 17 days ◆ Inaugural green tranche from BMO ◆ Concession left on both tranches
Both issuers usually market each shelves’ deals publicly
French prime RMBS and Finnish auto loan ABS deals add diversity to the week's pipeline
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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Issuers are squeezing every last drop out of the buoyant primary FIG market with Nordic borrower bringing a deal on a Friday but widening suggests bigger NIPs coming -
French issuer prints with 2bp-3bp NIP amid strong FIG primary market
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Lack of new bonds from the sector helped to push Lonza's latest note through fair value
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Pricing not too hot, not too cold but just tight as deals across capital structure land close to, or even through, fair value
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Markets are rarely this good. The smallest and weakest credits should get on with their funding
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Spanish bank offers six year 23bp tighter than Caja Mar's five year
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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