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◆ Norwegian national champion's first unsecured euro deal since July 2023 ◆ Non-preferred green note priced with no premium ◆ Deal helped by ESG label, rarity and high ratings for the asset class
◆ French firm sells first covered deal for three weeks ◆ Five year tenor is Caffil's shortest for two years ◆ Sizeable new issue premium required
Capital to be primarily redeployed to zero-emission vehicle leasing and green transport tech
Hot market conditions encourage pre-funding, amplifying borrower dilemma ahead of busy January
Conclusive US election result and rate product woes open pre-funding options to banks
New issue premiums are needed after a difficult week to sweeten post-US election issuance prospects
Abnormal trend expected to continue posing question for FIG treasury officials
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Bank capital issuance spree set to run as investors lap up even lower credits -
FIG issuers should look back on 2024 as a year well played
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Rising supply and a lack of secondary market performance put investors off covered bonds
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◆ Spreads too good for banks to regret issuing ◆ One of the busiest September starts in US FIG ◆More than a dozen foreign banks print over $27bn in just three days
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◆ Issuer meets target with debut deal ◆ Deal comes 2bp back of recent Italian supply ◆ Trade follows two day marketing period
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◆ Big orders and minimal premium for senior sale ◆ NatWest brings affordable housing bond ◆ Dutch debut from Triodos
Polls and awards
The covered bond market gathered in Porto to celebrate its standout deals, institutions and individuals
The best banks, issuers, individuals and other market participants were awarded at GlobalCapital's flagship industry dinner in London
The winning deals, banks, issuers and other market participants will be revealed at a gala dinner in Porto on September 12
The awards recognise the leading deals, issuers, banks and other market participants
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