◆ New senior FIG deals print with mid-single digit concessions... ◆... though Belfius offers more for its largest non-preferred funding since 2020 ◆ M&A target Monte dei Paschi prints year's first deal
◆ New deals land close to, if not at, fair value ◆ Book attrition visible amid competing corporate supply ◆ Seemingly no rivalry between senior FIG deals
◆ Italian bank raises €1bn after a similar euro pair last week ◆ Year-to-date euro AT1 new issuance volume is almost a quarter higher than 2024 ◆ Deal completed with minimal new issue premium
◆ French insurance company prints inaugural tier two debt for M&A ◆ UK’s Zopa raises sterling AT1 capital to meet growth targets ◆ Oldest German building society expands funding mix
