◆ Higher rated Austrian lender offers more spread for similar senior preferred bond ◆ Big demand pushes deal inside fair value ◆ BCP still prints its tightest unsecured debt for more than five years
◆ First public bond from French insurance and savings manager ◆ Wider spread than major issuers' tier two levels secures big move from IPTs ◆ Demand close to €6bn
◆ UK lender stays patient for volatility to subside before commencing unsecured euro funding ◆ Investors show strong support for both tranches ◆ Pricing at fair value, though some debate on longer leg
◆ Good capital issuance window for smaller UK financial institutions ◆ Both use liability management to refi ahead of calls ◆ Close Brothers paying hefty coupon due to heavier motor finance exposure
