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◆ Dutch machinery maker prints a 10 year bond ◆ Orders drop 39% from peak during bookbuilding ◆ Orderbook attrition back in focus among bankers
◆ Electric utilities back in size as primary reopens ◆ Strong books despite tight prints ◆ EDP joins the EuGB cohort
◆ Scottish utility prints eight year green bond ◆ Order book peaks at more than three times covered ◆ Small new issue premium paid
◆ French issuer prints two year floater and four, 6.5 and 12 year bonds ◆ Peak demand tops €11bn across the four tranches ◆ 12 year bond attracts the largest final book
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Strong corporate demand bodes well for the rest of the credit market
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◆ Real estate company tightens hard on spread ◆ Deal lands well inside fair value… ◆ …but order book shrinks substantially as a result
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◆ US delivery firm prints seven and 12 year bonds ◆ Equal spread tightening on both tranches ◆ Investors flush with cash jostle for scarce issuance
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◆ Debut issuer draws solid demand ◆ Orderbook almost touches £1bn at peak ◆ Investors see triple B corporate sterling as enticing prospect
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◆ Reverse Yankee with 7 and 12 year maturities ◆ Abundant liquidity hunts for extra yield from US credits ◆ First euro benchmark for FedEx since 2021
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Investors pile into deals before supply shrivels up for the summer