SEB

◆ Second SP deal from SEB this year... ◆... becomes longest point on its euro curve ◆ Some concession left as 'the right compromise'

Multi-year high August volumes raise questions for next month's issuance

Senior funding there for the taking, covered bonds yet to take off — but conditions are great for all

◆ Swedish bank prices the tightest senior non-preferred in more than three years ◆ Why spread breached 100bp ◆ Market 'busier than expected'

◆ IDA fair value more art than science ◆ MuniFin gets over 140 accounts in its book ◆ Madrid makes debut EuGB trade

Improved all-in funding conditions lure a host of European banks to the US as Citi emerges with jumbo opco trade

◆ CIBC takes large share of the covered bond limelight as market tone improves ◆ SEB returns to euros for the first time in two years ◆ Outcomes likely to attract other issuers, say bankers

◆ Priced off recent peer issue ◆ New levels found after swap spread moves ◆ Deal twice subscribed

◆ New norm established for NIPs and spread tightening ◆ Some investors ‘burnt by govvies’ require more premium ◆ Rival bankers agree on NIP paid

◆ New 10 year issued every year since 2014 ◆ Pricing comes close to flat ◆ One more syndicated offering planned

◆ 'A nice spread' ◆ Upgrade potential ◆ BAWAG opts for sub-benchmark tier two

◆ Longest trade in euros for SEK ◆ Book almost three times covered ◆ Rarity helps with tight pricing