Weekly Covers
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◆ Larger than average tranche sizes and price moves ◆ Encouraging sign for sterling issuance ◆ NIP debated -
◆ First in-life registrar and blockchain change ◆ Digital premium compresses from 10bp to 3bp ◆ Deal draws first international investor
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Universal Music, Alstom and Sanctuary Group among those lining up euro and sterling trades
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◆ 5bp of tightening is the ‘standard’, said banker ◆ NatWest’s covered slightly wider than tightest sterling this year ◆ Fifth covered on a Friday this year
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◆ Province's Greg Horan and Jason Lewis on new £1bn six year line ◆ Captured first-mover advantage ◆ Last minute pivot from US dollars to sterling paid off
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Two senior bankers to leave, new roles for Tayler and Roose
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◆ Björn Schlebach and Sven Wabbels on sterling trade ◆ Issuer held out for cross-currency to align ◆ Year's tightest Gilt print, at plus 4bp
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Increased investor interest in utilities hybrids could bring down subordination premium, says SSE treasurer
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Issuer further advances year's funding, now funded $10bn of $12bn current target
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Issuers are trying to plot their way through a busy schedule of central bank meetings this month
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Years of underperformance are behind it and the bank has launched a new growth plan
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The possible further internationalisation of the covered bond market will present challenges as well as opportunities
