Investors pile up massive book for rare Asfinag's €1.5bn

Sarah Ainsworth

September 16, 2025 05:34 pm

◆ Priced over Austrian govvies ◆ Scarcity and business model help demand ◆ Saskatchewan targets 10 year

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Sarah Ainsworth

Deputy SSA editor

Senior Debt

Toronto-Dominion extends Canadians' euro curve with tight print

◆ New deal becomes longest issued by a Canadian bank since 2020 in both euros and sterling ◆ Provides clear arb to US dollars ◆ Bolsters TD's funding spree in Aussie, Canadian and US dollars

Atanas Dinov, September 16, 2025
Corporate Bonds

Nestlé skims through fair value with €1.1bn dual tranche

◆ Swiss food giant issues eight and 13 year notes ◆ Last Nestlé's euro issuance for 2025 ◆ Inmobiliaria Colonial adds €800m green deal

Diana Bui, September 16, 2025
Regulatory Capital

Sampo's ultra-rare Finnish tier one achieves blowout sale

◆ First Finnish tier one FIG capital public sale in euros since at least 2020 ◆ Insurer to redeem tier two capital early ◆ First euro RT1 since July

Atanas Dinov, September 16, 2025
Supras and agencies

Investors rush in as EIB wraps up 2025 funding programme

◆ Issuer's second largest book ever ◆ Last benchmark of year ◆ Average NIP has shrunk this year

Addison Gong, September 16, 2025
Primary Market Monitor

SSA investors have been price-sensitive since summer restart

Some deals struggled to get covered, but overall subscription ratio has been high

Sarah Ainsworth, September 16, 2025
Regulatory Capital

Subordinated new issues outperform rest of FIG capital structure once more

◆ Simultaneous tenders power new capital offerings ◆ Caixa issues tight and longer AT1 structured to refinance old capital early ◆ Permanent TSB's first tier two in more than four years ends in a blowout

Atanas Dinov, September 15, 2025