◆ Investors look to pick up spread through subordination rather than stay safe in senior ◆ Credit Mutuel's insurance arm brings deal ◆ But price on Crelan's 10 times covered tier two causes consternation
◆ Attrition in order books as ◆ Investors question valuations amid concerns about new issues underperforming ◆ Pipeline is ‘busy-ish’ and market ‘pretty constructive’