◆ Italian bank prints €1bn in first tier two since January 2024 ◆ Demand for higher yielding deals outweighs Middle East escalation ◆ Other new financial issuers of capital line up deals
◆ Functioning market for debut and lower tier borrowers despite spike in political volatility ◆ Kommunalkredit Austria prints rare tier two as mBank prepares debut ◆ Malakoff Humanis raises €750m for growth
◆ Assorted issuance mix mostly well taken by investors ◆ But lower yielding or unfamiliar names find it harder to gain traction ◆ Almost all issuers pay slim to single digit premium
◆ Investors scooping tier two debt across markets ◆ BNP Paribas takes advantage with third print of the year ◆ Rare German insurer Gothaer increases funding
