Crédit Agricole

Italy takes €15bn from dual tranche sale as bankers advise borrowers to keep going

◆ Second French bank deal in sterling in less than a week ◆ Issuer attracts £1bn-plus book due to lack of FIG supply in the currency ◆ OSB prepares senior return after September debut

◆ European banks lead issuance with focus on senior funding ◆ Market wobbles prove funding more challenging than expected ◆ Foreign banks’ capital raising is one prominent feature

Buyers grapple with falling interest rates

German issuer raised a whopping €9bn while two other SSAs together grabbed €2.5bn

◆ Issuer drives down yield by more than 200bp tighter than where other European national champions printed three months ago ◆ But this means smaller book that raises performance questions

Sterling remains king amid end of year flurry of deals

Shares in the French game publisher fell more than 8% after the convertible and delta placed

◆ FIG sterling issuance lagging higher sales of unsecured euros in 2023 ◆ Investors show readiness to buy as Pacific Life's second deal receives stronger demand at tighter spread ◆ UK insurer to offer long tier two

Banks may bring forward their 2024 funding plans to snap up duration as investors look to position ahead of predicted rate cuts

Green bond framework update gives investors first chance to buy PPs dedicated to funding nuclear energy

◆ Pronounced bid for duration results in largest book for an unsecured euro deal this year ◆ French bank makes most of being 'a unique beast with unique timing' ◆ Italian bank goes even longer in Yankee market