◆ French bank offers premium to investors to attain size target ◆ Deal is the tightest and longest French euro tier two in 2025 ◆ Rare Ibercaja also goes longer than the norm
◆ Fair value considerations point to wide range but no concession paid ◆ Earnings and market backdrop provide tailwind for tight pricing ◆ Issuer's first callable tier two in euros since 2022
◆ Second Icelandic AT1 in five months after no issuance for four years ◆ Issuer on the road ahead of dollar outing ◆ Arion's recent deal is the main reference
◆ Trump orders review of US involvement in multilateral development banks ◆ What's driving Reverse Yankee issuance? ◆ Deutsche Bank sparks new controversy in AT1 capital
