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The US tech giant kickstarted what could be a deluge of debt issuance from the largest US tech firms
◆ Junior note lands tight to Class As ◆ No concession needed ◆ Lack of sterling supply allows for tight pricing
◆ Peak book the largest for an IG corporate in sterling since early November ◆ Issuer takes size at a tight spread ◆ Wide range of fair values spotted
◆ Spanish entity hits market with tight, opportunistic trade ◆ Some attrition as deal priced through inflection point ◆ Trade lands through fair value
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Almost Sfr3bn printed in first week of May as Swiss franc mart shakes off tariff spectre
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Federal Reserve kept rates steady but only one company emerged after FOMC meeting
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Only a trickle of issuers have printed green bonds under the new standards so far
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Up to €10bn expected from across the ratings spectrum, but long maturities looking tricky
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◆ Rare green trade using EU's new standard ◆ Lands inside fair value ◆ Books fall by €1bn from peak
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◆ Triple tranche trade finds mixed demand ◆ Shortest tranche lands inside fair value ◆ 'Significant' demand for high rated short end to park cash