Currencies
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◆ Single digit premium paid ◆ Slim pick up offered over Canadian peers ◆ Canadian covered paper lower in euros this year to date -
◆ Bookbuild momentum slows due to Bloomberg outage ◆ Multiple ways of coming up with the same fair value ◆ 10 years appeals to duration and yield seekers
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◆ German sub-sovereigns back in 10 year euros ◆ Fair pricing, good pick up over KfW ◆ First deal to price on day of terminal outage
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The Kazakh bank is the fifth largest bank in the country as measured by assets
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The bank left the book open longer than planned due to problems with Bloomberg
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◆ 'Modestly-sized' first syndication for FY 2025-26 ◆ Size balanced for secondary performance and liquidity ◆ DMO aims for consistency and predictability
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◆ New deals land close to, if not at, fair value ◆ Book attrition visible amid competing corporate supply ◆ Seemingly no rivalry between senior FIG deals
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◆ AT1 volumes reach €5.5bn-equivalent since post-tariff reopening ◆ KBC pays premium for larger size ◆ BPM benefits from takeover tightening
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◆ Biggest book for Rentenbank in any currency, according to lead ◆ Agency raises $1.5bn ◆ Sets stage for more dollar issuance
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◆ Sovereign back again after 2024 return ◆ Record book for a conventional deal ◆ ‘Limited NIP' thanks to strong growth, rarity value
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◆ UK insurer makes rare visit to euros ◆ Signs of growing investor discipline ◆ Groupama tier two was 'good trade'
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◆ BayernLB ends two year public sector Pfandbrief absence ◆ Tatra issues for the first time this year ◆ Little to no premium needed for either deal
