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◆ First unsecured euros FIG deal in 17 days ◆ Inaugural green tranche from BMO ◆ Concession left on both tranches
◆ Canadian issuer filled nearly all its orders ◆ TD got 'fantastic' book ◆ SpareBank 1's first covered deal since August
◆ Bankers benchmarked trade against recent Canadian deals ◆ Issuer paid ‘couple of basis points” of NIP ◆ Latest in a series of sterling covered deals
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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The deal from the largest Polish bank is expected to serve as a reference for its future senior non-preferred funding while also guiding other CEE bank issuers -
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After a bumper run of public FRNs, several banks have found an opening in the format’s traditional private market home. But flexibility will be key this year as investors ask for higher liquidity
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Unsecured FIG’s rampant run slows as blackouts bite
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No sign of fatigue even though almost €40bn has been issued in 2023
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Issuers should take advantage of the favourable funding conditions — but keep offering concessions as they do
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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