Banks take their chance to fund before the summer

The European financial institutions bond market got a whiff of stability this week and, with the summer break approaching, banks took the opportunity to print deals. Caja Madrid priced a Eu1.6bn two year senior deal on Tuesday at 65bp over Euribor. Banca Popolare di Milano has sold Eu300m of tier one capital, and Swedbank and National Australia Bank lower tier two deals. To take the market’s temperature and find out how the deals performed, read EuroWeek this Friday.