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National Grid, NatWest and Roche lead a broad mix of issuers this week
Bankers expect more currency diversification but the biggest wave of isusance may still be to come
◆ UK utility follows Canadian dollar deal with Swiss debut ◆ Deal offers savings versus euros ◆ Investor limits leave no room for further tightening
Bankers expect some supply next week before a proper reopening beginning August 24
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Asset class war breaks out as FIG market complains Reverse Yankees are stealing investors away from their deals -
Issuer takes size at a competitive price on first foray into Swiss francs
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◆ Smaller trades populate market after roaring week ◆ Air France KLM keeps hybrid momentum going ◆ Cencora and Icade bring no-grow bonds
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◆ Transdev debuts among some big trades ◆ Abertis looks to pay zero premium on hybrid ◆ Heidelberg Cement pays low concession after big rally in its debt
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◆ US companies Pfizer and McDonald’s raise euros ◆ Pfizer pays zero concession but some thought it looked cheap ◆ McDonald’s cooks up almost €4.7bn book at peak
