Banks

◆ UBS's covered programme now 'well-known' a year after launch ◆ Investors like the chance to pick up triple-A rated Swiss risk in euros ◆ Premium needed for contractual structure

◆ Handful of European banks go Stateside after quarterly earnings ◆ Some revisit dollar funding despite it not offering best relative cost ◆ HSBC goes for size as its triple trancher surpasses BofA's $5bn print

There still is demand from investors after this week's senior salvo but issuers need to pay the steeper curves if they want to play

Key trade planned for 2025 executed to satisfaction, $4bn left to do

◆ Issuer changes pattern of Tuesday's dual tranche deals ◆ Cheaper relative funding cost at front end prompts FRN ◆ Bank's first senior euro foray of 2025

◆ €1.7bn deal gets 2025 funding past the line ◆ Seven year print and 18 year social tap ◆ Bankers say market gives 'good results' and more supply inbound

◆ Issuer happy to print more at tight price ◆ Single digit premium paid ◆ Australian covered spreads hold firm

Former JP Morgan DCM head and RBS treasurer join as special advisors to multilateral defence funder

◆ Bond secured against a pool of export credit agreements ◆ Santander gets biggest bid-to-cover ratio since March ◆ Deal lands flat, if not through, fair value

Hire shows SMBC's ambition

◆ UK bank has euro sub market to itself ◆ New NIP range established ◆ More capital trades said to be in pipeline

◆ HSBC, NatWest, Société Générale print similar dual tranche senior deals ◆ 'No canibalisation' despite €8bn concentrated supply ◆ Bid for duration on all deals