Barclays
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Market in 'good condition' after EIB re-opener, more supply to come next week -
The Japanese seller will prioritise aftermarket performance over high valuation, say sources
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DBJ also came out on Tuesday with larger than usual tightening
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EIB, KfW and BNG lead peers as expected, alongside DBJ which announced last week
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Banks are determined to stick to their growth plans as they see cause for optimism in investment banking thanks to increasing confidence and a growing pipeline of deals
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Supra sells the longest SSA bond in the currency in recent weeks
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The issuer has kept sterling investors busy with 12 deals this year
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Asian investors bought more than 40% of the deal following a recent roadshow
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Finnish issuer ended an 18-month hiatus in the currency to bag savings versus euros
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Muted SSA market welcomes European pair
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◆ Barclays’ bumper senior print proves euro market wide open ◆ US downgrade unsettles sentiment ◆ Dollars still the cheaper market
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◆ Old Discos no longer attractive capital or funding tool ◆ But multiple AT1s also called with no signs of replacement ◆ UK banks well capitalised
