◆ Nationwide to grow asset size by a quarter ◆ Affords to pay 38% premium thanks to top ranking CET1 ratio in Europe ◆ Strong rally of Virgin Money bonds suggest acquisition likely to proceed
◆ French bank adds Swissies to Singapore dollars and euros in ‘relentless’ issuance spree ◆ Funding boss Perrier discusses diversification aims ◆ Private trades across markets identified
◆ Dutch insurer refinances legacy tier one at negative NIP ◆ More insurance deals expected across capital structure ◆ Smaller European bank tier twos prove strength of FIG market
Sterling issuance has all but evaporated in recent weeks despite evidence of structural demand from UK investors. Even domestic issuers have snubbed the currency but suggest that some euro funders could be lured back
◆ Raises lower end of €1.25bn-€1.5bn target after feedback ◆ Reintroduces positive new issue premium from major FIG issuer ahead of possible slowdown ◆ Follows Singapore dollar tier two
