Banks

◆ Both issuers lift more than they typically issue in senior debt ◆ Larger sizes warrant higher concessions ◆ NordLB adds call, CCDJ extends duration

◆ Post-Seville conference pipeline builds ◆ Traffic jam possible but ample liquidity is there ◆ Kookmin takes €600m at four years

Iles and Poensgen step up

UK banker will take on bigger market

Italy’s top independent investment bank must try to survive inside Monte dei Paschi

◆ New deal becomes longest issued by a Canadian bank since 2020 in both euros and sterling ◆ Provides clear arb to US dollars ◆ Bolsters TD's funding spree in Aussie, Canadian and US dollars

Tom Hall talks to George Smith about the lively and Santander-dominated European ABS primary market, before discussing the bankruptcy of US ABS issuer Tricolor with Chad Van Estrop

◆ Eager investors help book building momentum from early on ◆ UniCredit lands third non-preferred tranche of 2025 inside fair value, say leads ◆ Even ABN's lower-yielding green senior preferred comes near FV

US FIG issuance spikes above $90bn ahead of expected Fed rate cut

Market participants hope more jurisdictions will follow as Canadian duo attract record demand

◆ Third benchmark SP from the Landesbank becomes year's tightest ◆ This brought challenges and price discovery ◆ Higher new issue premium compensated with 'good' foreign buying

◆ Sole management enables quick sale ◆ Debate on fair value but some concession left ◆ Big green bond comes between two SNP redemptions