Currencies

◆ Bankers expect much issuance of insurance capital ◆ Big redemption and capital positoning suggest RT1 preference among borrowers ◆ Achmea underlines trend as it will refi granfathered T2 with RT1

Company is reducing size of its loan and bond debt in combination deal

No competition expected as investors hunger for covered paper across the curve

Company’s last foray into benchmark euros saw it print small, then tap

◆ Sterling market still strong ◆ Fair value built out from peers ◆ US and Aussie dollar issuance to come

New head of debt management discusses first dollar deal of year

◆ New issue concession required after Gilt sell-off ◆ Issuer prices close to euro curve ◆ UK asset manager demand

◆ US bank funds in the single currency a day after hitting the US market ◆ 'Aaggressively' price tightening met by strong demand for duration ◆ CA Auto Bank sells FRN on Goldman's heels

◆ Deal seven times covered ◆ No premium paid to fair value or govvies ◆ French investors unsure on OAT spread, others happy to buy

◆ Huge final orders as company diversifies into euros ◆ Flat or negative concession offered ◆ Dollar and euro comparables used for pricing

French grocer has smooth outing as eyes turn towards Trump inauguration

New dollar social deal stands out from the crowd