Banks

◆ Big order drops in response to tight pricing ◆ Hypo Noe pays premium to keep orderbook intact ◆ Arion lures orders with spread

Issuer spots strong appetite from traditional investors amid net negative supply

Changing one of IB bosses shows what Deutsche values

◆ Issuer prints €2.25bn across two tranches ◆ 10 year tranche solidifies returning long end demand ◆ Slim premium needed on both tranches

◆ Dutch bank pushes another tightly priced capital deal ◆ Stays mindful of peers ◆ Its third trade this week amid supportive conditions

◆ Issuer takes home more than the usual $2bn ◆ Single-digit spread to US Treasury at landing ◆ Dollar investors still attracted by spreads to swaps, yields

◆ Joint Länder trade raises €1bn ◆ JLMs help cover deal ◆ EGB sell-off deepens

◆ Deal makes ‘good sense’ from an arb perspective ◆ First time out in sterling for more than a year ◆ £350m deal size larger than expected

◆ First EU green bond from FIG after corporate and SSA debuts ◆ Bank turbocharges senior funding in euros a day after sterling visit ◆ Deals have similar structures and maturities

◆ Cost saving to euros and dollars continues to lure non-UK borrowers ◆ Sterling real money investors show clear affinity for higher spread offerings ◆ Demand slows for tighter Nordea

◆ Strong market for subordinated bank debt in euros and dollars ◆ Investors buy ‘undersupplied’ UniCredit AT1 at multi-year low yield in the asset class ◆ Barclays, SMFG and ENBD target dollar AT1 buyers

◆ Macquarie five year follows in CBA's tailwind ◆ Pair pay minimal premiums ◆ Macquarie's first covered bond since 2022