Banks

◆ French bank’s insurance arm completes first tier one print less than a month after parent bank’s AT1 ◆ Deal offers heightened premium ◆ Outcome amid volatility deemed ‘pretty decent’ by rival

◆ New five year bigger than planned ◆ New dollar book record for sovereign ◆ Rare but regular issuer, 'a pleasure' of a deal

◆ Fair value calcs far from straightforward ◆ Largest book for index-linked Gilt offering ◆ Less index-linked issuance in 2025-26?

◆ Deeply subordinated issuance shows resilience ◆ Bank of Ireland completes AT1 funding but tightening brings ◆ Crédit Agricole's insurance arm plans debut RT1

◆ 'Reasonable interest' in sterling market ◆ Popular tenors accessed ◆ Neither issuer tightens pricing from guidance

◆ Order book holds as premium paid ◆ Arb versus dollars considered ◆ 'Highly granular' buyers

Appointment follows strong year in ECM

Respected expert’s job cut while on maternity leave

Influential banker helped shape European levfin market in 35 year career

◆ US FIG issuance at steady pace despite volatility ◆ Range of domestic borrowers hit market, including BNY Mellon with a perp ◆ APAC banks print senior and subordinated debt

◆ HSBC prints A$1.5bn into 'growing market' ◆ Banco Santander lures buyers amid value vs euros ◆ Aussie market 'more appealing'

With private equity plateauing and private credit booming, banks are anxious not to get left out of the party