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Concessions climb as Middle East war rocks sentiment and Amazon redefines clearing levels
◆ Deutsche Post delivers €1.25bn over two tranches ◆ Some premium needed for defensive deal ◆ Deutsche Börse gets Monday's largest book
◆ Deal only the second ever Kangaroo hybrid ◆ Concession offered on all three tranches ◆ Verizon increasingly looking abroad for hybrid funding
◆ Corporate bond market fizzes with multi-tranche, multi-currency deals ◆ Marketing helps spur strong outcome ◆ Proceeds to fund coffee subsidiary spin-off
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Life science, utilities and industrials dominate supply after big tech's big splurge
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Fresh issuance expected to keep new issue premiums elevated
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◆ Energy pair bring three tranches ◆ Sub-100bp senior/hybrid spreads secured ◆ Single digit concessions offered
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◆ Deal attracts highest bid-to-cover ratio of the year so far ◆ Extensive marketing helps fuel demand ◆ Pinpointing fair value tricky
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◆ First Swissie corporate bond since Alphabet's finds size ◆ Dual tranche trade lands tight ◆ Domestic corporate undersupply helps demand
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◆ Issuers opt for extra guidance as market softens ◆ Enexis takes size at six years ◆ DSM-Firmenich lands tight