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◆ First capital trade by an international bank since Iran war began ◆ Fair value debated, some spot visible concession ◆ $2.5bn size across two tranches supported by $17bn book
◆ British building society landed first 10 year since before the war ◆ Pipeline expected to be slow from now ◆ Investors will watch secondaries for performance says lead
◆ Issuer's first in almost a year ◆ Issuer opts for no-grow deal ◆ Investors show greater price despite stronger market on Monday
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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Under-supplied unsecured products work well after issuance and execution slowed down from too much volume -
Swiss lender picks Credit Suisse alum to fill vacant role
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Credit Ag and UniCredit AG built big order books
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With investors expected to absorb more than €4.5bn of supply on Wednesday, issuance in the first week of January will top €15bn
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Size and spread close to what was possible in euros
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Spanish lender, which chose not to call an AT1 last year, lured strong investor demand
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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