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◆ Japanese issuer returns for third time in euros ◆ Lures investors wanting to diversify with large but uncommon issuers ◆ Higher spreads and IPTs than recent European banks
◆ Deal starts with 'intentionally' lower new issue concession than peers ◆ Slower book building may influence this week's tier two issuance ◆ Pre-funding ahead of French elections results in desired €750m size
Books were €700m for what had been penned as a €750m deal
Data
Covered market provides 'the deepest pocket of demand' among FIG asset classes
Capital deals and a tight Nordic senior print point to what lies ahead for issuers
The single currency stands out as the most attractive funding source while the US dollar market remains open in size
Some evidence of green price advantage in secondary market, but not primary
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Spanish covered bonds to metamorphosise in a little over six weeks -
In this table, GlobalCapital Asia offers a glimpse of the bond deals that are in the works
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Deutsche Pfandbriefbank eschews tier two refi in favour of extension
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Differentiating itself from the competing FIG supply, the Dutch bank revives long dated bank issuance in euros
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Undersupplied five year point the ‘sweet spot’ for covered deals
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Insurer pair turn to sub debt to finance upcoming redemptions and tenders
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Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
The awards recognise the market's leading deals, issuers, banks and other participants
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
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