Banks

◆ Barclays raises €1.75bn in dual tranche senior ... ◆ and issues Singapore dollar AT1 ◆ Lloyds pulls $9bn of orders for US dollar AT1

Berlin Hyp's head of funding moves after issuer integrated into LBBW

New originator could help Natixis advance in UK

Investors are eager to put cash to work in FIG bonds even though last week ended with concerns about bad loans

Hit by an alleged ‘fraud’ at the bankrupt US car parts maker, Wall Street’s last pure play investment bank has its sights set on European leveraged finance as it expands its alliance with SMBC

Deal expected to be priced after multi-week marketing period

◆ Second 'chunky' US bank euro print in a week ◆ Deal lands close to fair value ◆ But longer, fixed rate tranche raises questions as it is spotted wider in grey market

◆ First senior preferred in two years ◆ 3bp of concession ◆ Senior spreads 'really tight' versus covered bonds

Owners of the bonds face a long route to a payout but have a precedent in sight

◆ Sterling covered market on a 'hot streak' ◆ Strong demand pledged, including international interest ◆ Offshore sterling covered spreads compress

Andreas Feiner joins from PwC

Credit spreads widen on private credit concerns though technicals remain favourable