Banks

Firm wants to grow in US leveraged credit

Two syndications have landed the sovereign €16bn with just one more trade left to do

Bank of England, KommuneKredit and Agence Française de Développement also price deals

◆ Lloyds opts for short-dated euro transaction ◆ Transaction six times subscribed ◆ Sterling issuance eyed amid structural demand

Over €12.5bn of orders pledged for rare and tightly priced covered bonds

◆ Deal execution is ‘exemplary of the current market’ ◆ Demand drops by around €2.4bn from peak to landing, yet clears 10bp inside fair value ◆ Issuer reduces cost with bullet and counts SP bonds towards MREL

Canadian bank hires two bankers for syndicate and origination roles

Hunt now running syndicate

Both transactions priced flat to fair value or tighter

BoE, ADB, KK and AFD follow peers into dollar mart after week of healthy demand

◆ €750m deal is Dutch bank's first in euros since 2020 ◆ Issuer could wait out raising capital and yields to stabilise after Credit Suisse's demise last year ◆ ABN raised a little more capital than its shortfall of around €600m

Swiss bank expected to offer a pick-up over other non-eurozone names