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◆ First Australian sterling tier two since 2022 ◆ Fair value debated ◆ Motivated by uptick in Aussie tier two requirements
◆ Insurance company's first outing since 2023 ◆ Book continued to grow after reoffer ◆ 'Pretty much everybody from the UK real money investor base' present
◆ First UK bank to issue euro AT1 since 2020 ◆ Orders exceed €8bn ◆ Signals investors 'want duration'
Market participants spot first signs that ever improving funding conditions may be over
ESG deals show there is more to labels than just saving on spread
Issuers' desire to put covered pre-funding to one side suggests concerns over bumps ahead
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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Enjoy the roaring markets while you can, they won't last long -
◆ Yankee banks top up regulatory capital ◆ Brown & Brown fund $10bn acquisition ◆ Investors hunt for yield
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New faces in euros could be thin end of the wedge as Pacific Life introduces first green FABN
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◆ Assorted issuance mix mostly well taken by investors ◆ But lower yielding or unfamiliar names find it harder to gain traction ◆ Almost all issuers pay slim to single digit premium
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◆ OTP prints first euro covered in a decade ◆ Equitable Bank fails to tighten from IPTs ◆ Rival bankers debate Equitable struggle
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◆ Investors scooping tier two debt across markets ◆ BNP Paribas takes advantage with third print of the year ◆ Rare German insurer Gothaer increases funding
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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