Banks

Investors check credit line capacity ahead of deal

◆ FIG sterling issuance lagging higher sales of unsecured euros in 2023 ◆ Investors show readiness to buy as Pacific Life's second deal receives stronger demand at tighter spread ◆ UK insurer to offer long tier two

Banks may bring forward their 2024 funding plans to snap up duration as investors look to position ahead of predicted rate cuts

The US bank has picked the top management of its new-look investment banking division but uncertainty will remain until the restructuring is finalised in 2024

Green bond framework update gives investors first chance to buy PPs dedicated to funding nuclear energy

◆ Italian bank gets duration in Yankee market that it cannot reach in Europe ◆ The $3bn deal was its biggest for a decade ◆ Global bid for duration allows it to print longest SP dollar deal this year

The trade is ‘most likely’ the final syndication this year after issuer exceeded the lower end of its targeted funding range

Inverted five and 10 year swap curve means long dated covered bond issuance less attractive than senior format

Second foray into Samurai market this year

Issuer keeps an open mind but there is unlikely to be a ‘huge chance’ of the hybrid deal being done this year

Promotion follows Felix Orsini moving to new job

Dominic Pfisterer had been at UniCredit for 16 years