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Internal and external moves revamp French bank's IB team
Primary Market Monitor data shows sharp uptick in volumes across sectors
◆ Royal Mail owner prints across four and seven year bonds ◆ Shorter tranche draws stronger demand and larger size ◆ Premiums required as investors grow more cautious
Data
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Lull in dollar corporate supply supports spread levels
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Red-hot corporate hybrid bond market could tempt more debut issuers
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◆ Pearson pays up to reopen UK sterling paper ◆ Investors hungry for scant sterling supply ◆ Fellow UK media firm Informa opts for euros
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◆ Norwegian issuer returns to hybrid market after 2023 debut ◆ Issuer slashes spread by 62.5bp ◆ €5bn peak book drives pricing through fair value
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Public pension schemes have sold shares in coal, oil and gas companies but are still funding expansion of the gas industry through infrastructure funds
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◆ Peak demand tops 10.6 times the deal size ◆ Orders stay glued in after sharp tightening ◆ Issuer tenders outstanding hybrids alongside new bond
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