Banks

◆ Deals offer pick-up to KfW ◆ Saxony offers 1bp of new issue premium ◆ BayernLabo prices tight

◆ BNPP 'gives the market what it wants' as it raises more with longer, lower ranking tranche ◆ Market receptive to big senior deals ◆ Third French deal in three days

Long decision process leads to elevation of loan market veteran

◆ Tightens 1bp and takes $750m ◆ Bankers still waiting for fixed rate benchmark ◆ Sterling issuance in play

◆ BofA taps market with a perp in post-earnings appearance ◆ Varied issuance from US and Japanese insurers ◆ Citi the only large US bank not to have issued in dollars after quarterly results

◆ Nordea and CM Arkéa resume European senior funding absent since 'Liberation Day' ◆ Nordea likely to serve as floor for spreads in current market ◆ Arkéa goes slightly longer in its first deal of the year

◆ Larger new issue premiums required ◆ 6bp tighter than Bpifrance ◆ Size set at €2bn

◆ FRN concessions have jumped as much as 30bp ◆ Bankers question if European banks need to pay similar NIPs ◆ Euros could offer 'steadier market' for US banks

◆ Level set at fair value, price not tightened ◆ French agency follows on in same maturity ◆ Books of under €1bn

Austrian bank will not call its AT1 with the lowest reset rate but it will redeem another it had been extending since the eruption of the war in Ukraine

New global structure is reinvigorating push towards top league

◆ Volatility causes spread losses ◆ Issuer ‘flirted’ with intraday execution ◆ Level ropes in $2.35bn book