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◆ French bank swiftly acts after spreads tighten following ceasefire rally ◆ Fair value spread returns to pre-war level ◆ Bank pays small new issue premium
◆ Post-ceasefire rally brings predictability to market direction ◆ Quick execution brings the deal within vicinity of fair value ◆ Price discovery needed within German senior preferred universe
◆ Euro benchmark deal fixed at €1.5bn ◆ Banker said new issue premiums down slightly ◆ Lead managers picked comps at 23bp over mid-swaps
Data
Tweaks to trading book rules will be next stage of competition
Come May, current dollar market's gain may turn into euro pipeline's pain
European Central Bank's more 'balanced' tone may offer reprieve for bond execution
European banks’ absence from primary market is ‘different this time’
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Finnish lender sells first thematic subordinated deal out of the Nordic region -
Underperforming OATs have created a raft of relative value opportunities but these are being ignored as market participants look to square off their books before the end of the year
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‘Perfect combination of factors’ creates surprise window for last minute issuance
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Canadian firms take covered funding off table ahead of a busy year in 2022
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Provisioning practices require closer scrutiny next year, supervisors have said
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Issuance trend mirrors decline in mainstream market
Polls and awards
Have the chance to put forward your opinion and shape this year’s Bond Awards winners.
The covered bond market gathered in Seville to celebrate its standout deals, institutions and individuals
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The leading banks, issuers, individuals and other market players were named at GlobalCapital's flagship industry dinner in London
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