Currencies
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◆ UK insurer's first RT1 deal in six years ◆ Trade attracts market's attention as it comes before new prime minister begins ◆ Issuer to buy back dollar and sterling debt -
◆ Second Swiss cantonal bank to fund in euros this year ◆ Slow bookbuilding for a tight credit ◆ Premium paid
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◆ Tight spreads entice specific demand ◆ Sterling FRN supply quadruples versus last year ◆ Leads pushed to execute as pipeline builds
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◆ French agency rehabilitated after sovereign's fiscal and political wobbles ◆ Bankers estimate spread over French peers ◆ Cross-currency arbitrage versus euros weighed
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◆ 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
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Second digital project won’t be the issuer’s last, Länder peers may be ‘interested and willing’ to join in
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The trade, like previous yen issuance, carries a guarantee
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◆ Italian lender achieves tight spread, pays 'generous' concession ◆ But book building deemed slower ◆ Some tier two fatigue creeps into market
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◆ Great-West Life more than three times subscribed on second euro outing ◆ Pricoa brings FABN in sterling ◆ Banker 'surprised' with busy Tuesday for FIG
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◆ Half-year close keeps some issuers on sidelines ◆ Bankers expect big euro supply to come ◆ More concession on pricing could be required
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◆ Scottish Hydro tests long-dated sterling demand ◆ Tight pricing limits further tightening from guidance ◆ Cadent extends its euro curve with 10 year trade
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◆ German utilities taps improving bond market ◆ Demand holds firm across six and 11 year tranches ◆ Fair value debated
