Banks
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Goldman Sachs joins Western Europe's top three bookrunners -
◆ Defensive short dated deal is first senior bank euro offering in more than a week ◆ Issuers balances size and price ◆ Pays single digit new issue premium
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◆ Deal went ahead despite tariffs-related volatility ◆ Assessing fair value was key ◆ Supra now nearly 56%-funded
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◆ Dollar basis working for euro issuers in five year ◆ Maturity working for issuers in 2025 ◆ Deals come a day before Trump tariff announcement
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◆ Dutch bank scoops €1.5bn with three year deal ◆ Demand allows for tight pricing ◆ Next to no premium needed
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◆ German bank tightens 3bp from guidance with minimal NIP ◆ Larger tap than usual ◆ Succeeds in face of tariff uncertainty
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◆ Deal demand shows covered bonds ability to withstand volatility ◆ No concession needed ◆ French deal lands through OATs
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◆ Deal lands flat to Pfandbriefe ◆ No premium paid ◆ Slim spread gap to SSAs
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Canadian banks cross the border and UOB makes rare return to the US before tariffs imposition
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Innovation has generated 500 deals without requiring extra bankers
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Americas CEO Stefan Simon to leave for personal reasons
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◆ No new issue premium paid ◆ Green bond helps build book ◆ Good demand for French agencies
