Belgium
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Belgium and two European agencies also mandated, even as the US and Iran failed to reach a peace deal -
◆ Eurofima made rare visit to euro four year conventional curve ◆ New issue premium estimated ◆ Region Wallonne grabs solid order book
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◆ First hybrid from Belgian utility since 2023 ◆ Size rises by €400m from benchmark ◆ Final book shrinks sharply by allocations
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◆ Bank prints first Belgian covered in over six months ◆ Issuer caps order size at €750m from start ◆ Covereds this week offering more new issue concession
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Eight banks provided the loan, which can switch by lenders' consent
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◆ First visit to public market in 2026 ◆ Fair value estimated by lead bankers ◆ Broader momentum in SSA market supportive
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Recent Italy syndication prompts talk of change in how sovereigns manage syndicates
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◆ Market conditions made going ahead an "easy decision" ◆ Two-year FRN priced flat to fair value ◆ Floaters' secondary liquidity debated
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‘Amazing’ reception for long dated syndications but issuers explore different options amid persistant duration risk
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◆ Belgian utility goes for 10 year paper ◆ Issuer set final size at guidance ◆ Deal skims through fair value
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Pension funds 'very much present' in the deal and central bank demand 'quite remarkable', says issuer
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◆ Sovereign takes plunge into 30 year ◆ Book almost twice that of 2024 deal ◆ Large size, tight NIP, others encouraged
