The FIG primary market reopened this week after the conclusion of the French parliamentary election but it has emerged that not every issuer is returning to a rapturous response
◆ US insurance company starts marketing at 'sensible' IPT, says one banker off-deal ◆ But others say it was 'aggressive' ◆ They attribute change of sentiment and relative value difference to US dollars for pulling the deal
◆ Strong demand pushes new bank capital deals close to or even inside fair value ◆ Banco BPM brings new AT1 alongside tender ◆ ABN gets negative NIP on tier two
◆ Risky debt offerings unhindered by French political worries ◆ Groupama prices debut deeply subordinated capital at 'better than anticipated' level ◆ La Mondiale sees result as good omen for its RT1
