Currencies
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Deal expected to be priced after multi-week marketing period -
SSAs add cross-currency depth in private placements
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◆ Pricing comes significantly through EU ◆ 'Surprising' French interest in book ◆ Fast money deterred by odd tenor
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◆ Second 'chunky' US bank euro print in a week ◆ Deal lands close to fair value ◆ But longer, fixed rate tranche raises questions as it is spotted wider in grey market
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◆ German state takes €1.5bn ◆ Seven year demand question answered ◆ Small spread paid versus theoretical new KfW line
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◆ UK tobacco company sells larger than expected €1.2bn dual trancher ◆ Final demand strong despite tighter yields ◆ Sub/senior gap set in the low-100bp area
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◆ First senior preferred in two years ◆ 3bp of concession ◆ Senior spreads 'really tight' versus covered bonds
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◆ Book one of the issuer’s largest ◆ ‘A good trade’ at 19bp over swaps ◆ Tight spread to Finnish govvies
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Absence of new bonds to help secondary spreads grind tighter
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◆ Fashion retailer's first bond since 2023 ◆ Book peaks at €3.6bn ◆ VIA Outlets brings €500m green trade
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◆ Issuer's first unsecured bond since March 2021 ◆ Tight pricing for rare name in the asset class as ...◆ ... 'everybody wants to grab every piece of paper they can get'
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Luxembourg-based steel maker and French spirits company get warm welcome
