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High yields and tight senior/sub spread fuel enthusiasm for issuance among investors and issuers
◆ German utilities firm debuts hybrid bonds weeks after first senior deal ◆ Books shrink as issuer pushes tight ◆ Trade lands inside peers
◆ Swisscom pushes senior/sub spread close to record tights ◆ Tennet Germany lines up debut hybrid ◆ Hybrid volumes run ahead of 2025
◆ Books sticky throughout execution ◆ Debut deal lands tight ◆ Commitment to single-A rating drives first time trade
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Bigger book for senior tranche of debut, but borrower manages to increase size of deal
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BP hybrid sees one of the smallest books of the week
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IDB’s $1bn risk transfer expected to encourage other MDBs
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Informa, Würth, Royal FrieslandCampina and Shurgard slot into day of lesser followed names
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Parent company rescues spin-off in turnaround plan
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RTE shines, Eastern Power outperforms, Proximus debuts in hybrid