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◆ Insurance companies anchor long dated green tranche with near-4% yield ◆ Curve extension debated ◆ Deal comes amid widening secondary spreads but lands with negligible premium
◆ UK lender raises $4.5bn-equivalent in five senior holding company tranches this week ◆ Both deals target long dated funding ◆ Despite secondary widening, euro offering lands with hardly any premium
◆ 52bp reoffer equals Nordea’s multi-year record ◆ ‘Insane’ levels show FIG spread compression, rival banker said ◆ Buy-and-hold investors prioritised
Data
Favourable market conditions have made raising debt like 'fishing with dynamite' for bank issuers. But concerns are mounting about volatility ahead
French bank scoops top spot overall, while BNP Paribas leads in senior and Crédit Agricole in capital
Strong demand and tight spreads has propelled volumes past January records
Late-week surge shows investors remain hungry for paper despite macro volatility
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This year's two powerful trends of spread compression and convergence give rare issuers a chance to shine -
The next leg of the spread convergence between eurozone periphery and core FIG issuers could come from the east or south
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Santander trades demonstrate there is room for spread tightening for euro ABS
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◆ Life insurance firm debuts ◆ Book peaks above €3.2bn ◆ Funding to refi bridge loan after consortium acquired the insurer earlier this year
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WiZink and First Citizen Finance progress Portuguese and Irish ABS deals
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Despite widening of business development companies' spreads, technicals remain favourable for FIG issuance
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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