Banks

No dedicated head for business in MidEast

◆ New senior non-preferred bond comes a month after defence-labelled senior preferred ◆ Improved sentiment towards new French government ◆ Danske Bank finds 'strong' appetite for tight FRN

◆ Maybank gathers sticky, high quality demand ◆ No premium needed ◆ Prima prices tight

◆ 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