Banks
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Syndicate banker moves from Bank of America -
◆ Cross-currency basis swap moves make trade feasible ◆ Fair value hard to locate after Gilt movement ◆ Book almost covered
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◆ Opportunistic move pays off ◆ More balance brought into euro curve this year ◆ ‘Incentive and motivation’ to improve spreads
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◆ ‘Important and strategic’ trade for French agency ◆ Regulatory upgrade brings tighter pricing, new investors ◆ Public Aussie debut possible next year
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Euro loans could outperform despite offering lower coupon payments than in dollars
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◆ Final terms fixed from the get-go ◆ Second opportunistic dollar trade from the sovereign ◆ Home euro market having ‘terrible day’
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Japanese bank goes ahead of peers by merging bank and securities firm in EMEA
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Streak of high-yielding FIG credit attracting ample demand has been broken
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◆ Potentially final benchmark issuance of 2024 ◆ Pricing 'more or less in line' with fixed rate curve
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◆ Deal meets investor resistance despite higher yield ◆ Offers 'attractive yield' but book drops to just above €750m issue size ◆ German bank to refi early only Landesbank AT1 via tender
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◆ Agency brings planned October benchmark ◆ Regulatory boost received in July ◆ Bonds now trade closer to Bpifrance
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◆ Follows similar attrition Mediobanca experienced on Monday ◆ Rival bankers give mixed assessment ◆ Jyske Bank senior offering holds up better
