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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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Spanish bank offers six year 23bp tighter than Caja Mar's five year -
The bank’s single-B rating was no bar to investors who placed peak orders of €2bn
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Spanish lender raises new tier two debt 200bp below the reset spread of its old bond, callable in December
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Even though French lender has raised €4.25bn, concessions have fallen
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Bumper books allow banks to make some ‘aggressive’ price revisions
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Potentially difficult deals from UniCredit, Aareal and Oma went superbly well
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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