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Investors react calmly to new hybrid ranking higher than old ones
Four hybrids draw attention from rampant subordinated FIG market
No let-up in demand as the third week of high issuance activity gets underway
Borrowers try to slide in before ECB meets on Thursday
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Borrowers fill screens on Thursday after poor market open a day earlier kept issuers away -
Hybrid from Snam and sustainability from Welsh Water
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Other incoming new issues include a niche social bond in sterling
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Merck and BMW print €3.3bn ahead of the autumn rush
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Both deals find ample support, even as Otto pulled its debut SLB
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There has never been so much momentum to reform the multilateral development banks. But most of the many avenues to expand their lending have run into difficulties. Jon Hay reports
