Currencies
-
◆ Deal the largest single covered bond tranche in euros this year ◆ Single digit premium paid ◆ French issuers make the most of flat belly of the curve -
◆ Size on upper end of DMO's expectations ◆ Minimal new issue premium ◆ Gilt to be auctioned next month
-
◆ 'Good outcome' for German states ◆ Spread to KfW tighter for longer maturities ◆ Prices tighter than 10 year deals from peers
-
'No brainer' issuer set to price a seven year bond on Wednesday
-
◆ French banks paid minimal NIPs at start of 2025 ◆ Pace of issuance began slower than 2024 ◆ Volumes increase as US banks arrive
-
◆ Views on fair value differed ◆ France syndication ‘the next big test’ ◆ Supra attracts €60bn final book
-
Borrower shows that triple-B rated names have no problem calling long distance
-
Some of these deals stalled late last year and have spilled over into this year
-
◆ Book crosses €3bn after 45 minutes ◆ Investors eager to buy any and all covered bonds ◆ Demand allows for next to no premium
-
◆ Deal the UK lender's largest since 2010 ◆ Little to no premium paid ◆ UK paper in euros pricing close to EU peers
-
◆ Dual-tranche offering draws big order book ◆ Concession varied on each leg ◆ 11NC10 structure follows popular JP Morgan trade
-
Danish agency prints in euros, will look for dollar and green windows
