Banks

◆ Dual-tranche deal attracts €200bn of orders ◆ New seven year was somewhat unexpected ◆ Bookbuilding started with 4bp of premium

◆ Rarity, tenor and size fuel demand ◆ Big book and dozen dealers make allocations tricky ◆ Next to nothing paid in premium

New chief executive makes first reorganisation with some senior bankers understood to be leaving

◆ US bank brings sizeable sterling deal ◆ Fair value debated ◆ Bankers say sterling starved of supply

Company has begun pre-deal investor education to local and international investors on $1.5bn-$1.75bn IPO

◆ Bond priced with no new issue concession ◆ Spread to swaps drives orders ◆ More price discovery for French agencies

◆ BNP Paribas readies first covered of 2024 ◆ French firm appoints 12 bookrunners ◆ MunHyp to benefit from reshaped yield curve

◆ French issuer ends year-long absence ◆ Pricing was inside fair value ◆ Triple-digit spread over swaps

◆ Nordea swiftly prints tight senior non-preferred a day after earnings ◆ Arkéa stretches even longer as it takes 10 year senior preferred funding ◆ Healthy books of €2bn each show conducive market

New boss of Citigroup’s banking division has made sweeping personnel changes, but the bank is also raising its game

Two more major US banks issue bonds but three do not despite spreads at post-GFC tights

◆ Deal sees $4.25bn in demand ◆ Good value versus tier one SSAs ◆ Short-end dollar attracts interest