Banks

Cracking M&A and North America are central to BNPP’s ambition. Can big investment and a new structure do the trick?

◆ Barclays unlocked strong long-end demand for its first dollar trade of 2024 ◆ BlackRock raised $3bn as FIG supply booms

SSAs look increasingly expensive versus government benchmarks, raising the question of when investors will stop buying

Although investors want sterling risk, issuers are not queueing up to issue

Former regional DCM head has relocated to New York to work for Spanish bank

◆ French bank adds Swissies to Singapore dollars and euros in ‘relentless’ issuance spree ◆ Funding boss Perrier discusses diversification aims ◆ Private trades across markets identified

French bank aims for size over price, but lands in line with euro funding sources

Sub-sovereign continues to chip away at its €9.6bn annual programme

Pent-up demand for first sterling covered deal in three months fuelled the tight outcome

◆ New structure taps investor demand for short-dated credit ◆ Issuer saves on three month versus six month basis ◆ Callable format adds funding flexibility

More than $10bn issuance expected as AIIB and KfW announce deals

£500m no-grow trade the first in sterling for three months