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◆ Spread fixed early at 53bp over Sofr ◆ Priced in line with ANZ’s dollar trade on Monday ◆ BMO has been a pioneer in covered issuance this year
Five months in, Alessandro Melzi is getting started on the plan, but his boss is about to change
The launch of a €35bn exchange offer for Germany’s Commerzbank marks a decisive attempt to break a stalemate that has frustrated Andrea Orcel in his quest to turn UniCredit into a pan-European banking champion
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European Central Bank's more 'balanced' tone may offer reprieve for bond execution
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
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Amid global volatility, yen market offers challenging but viable funding diversification, especially to European banks -
In this table, GlobalCapital Asia offers a glimpse of the bond deals that are in the works
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Echoes of a Lehman moment prompt more banks to look towards alternative funding in yen. But while the Japanese market remains stable, accessing it is not as easy as it seems
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Large financial institutions can benefit from market volatility to take back old bonds at a discount, while smaller banks can only find refinancing solace through exchange offers
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The tenor is not great for issuers but funding options are limited and investors love it
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Two year covered bond funding is not ideal, but may become the best option
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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