◆ The 'powerful technicals' driving success in unsecured issuance ◆ Nykredit takes advantage with 'solid' deal ◆ German issuer the only other benchmark deal being marketed
◆ Deal is French insurer's first bond since 2014 ◆ Strong demand for higher yielding assets results in pricing close to fair value ◆ Book reaches around €3bn
◆ Deal marketed at a price to sell ◆ Structure suggests UBS is optimising funding volume ◆ Reluctance to buy Swiss AT1s remains but fixed income markets are recovering
