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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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◆ Economic growth, upgraded ratings and wider spreads all attractive versus rest of DM Europe ◆ Bankinter prints on the edge of FV as Unicaja leaves small NIP ◆ BPM and Novo Banco come through FV
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◆ Borrower's first deal of its new fiscal year ◆ CBA opts for size ◆ Market receptive to 'off the run' tenor
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Conflict of interest is early test for Deutsche Numis and illuminates nature of broking relationships
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◆ Book building slows ◆ Spread tightening lessens ◆ Volume not to blame for lower demand
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◆ 'Solid' demand manifests ◆ ABN shows duration appeal ◆ Greece's Alpha Bank next in euros
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◆ Crédit Agricole brings subordinated sterling deal ◆ Sabadell mandates a sterling debut ◆ Investors 'starved' by 'unwilling' issuers
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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