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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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Corporate and FIG issuers forced to pay up as investors shut up shop
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ESG bond market demonstrates ample appetite for both trades as Henkel preps dual currency SLB
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Bevy of names on screen but deal sizes expected to remain modest
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Holdco tranche rated BB- finds good demand after pause
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Europe's new second biggest housing co raises €3.35bn for acquisition
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Tight spreads throw attention on to differences in credit and style