Banks

◆ Two non-EU banks hit the senior market with green bonds ◆ SMFG's first deal in 15 months benefits from scarcity value ◆ Landsbankinn compresses Icelandic bank spreads but pays higher premium than larger European issuers

◆ Deal follows recent tier two success ◆ Issuers 'need to be fair' when approaching market ◆ LBBW announces Berlin Hyp rebrand

Tech firm to repay part of WMWare financing after biding its time

Banks are looking at next five weeks to raise anything from deeply subordinated capital to senior debt

◆ Issuer appears for first deal since 2022 ◆ Tight pricing against Austria ◆ Healthy demand helps Asfinag take home target size

◆ Insurance companies continue to pump tier two capital this week ◆ Banks opt for the most subordinated debt funding in dollars ◆ Small Smaller French insurer receives 8.8 subscription ratio despite French assets widening

◆ Deal has a large $2.5bn size ◆ Front end opportunity opens up ◆ €18bn raised so far in 2024

◆ First Reg S/144A floater ◆ ‘Good demand’ for short end FRN paper ◆ Issuer takes size at upper end of target range

◆ Three year bond cost ‘flattish to euros’ ◆ Tight Treasury spread? No bother ◆ €10bn left to do of €80bn target

◆ Five year tenor works for investors ◆ Fair value not what it seems ◆ IfDM and Asifnag also price

◆ Swiss Life resuscitates euro capital issuance ◆ Rarity, company size help drive price through fair value ◆ Sogécap avoids French concerns

◆ First euro print for the sovereign since 2022 ◆ Focus on price over size ◆ Euro all-in cost proves attractive