Currencies

◆ Reverse Yankee FIG issuance 17 times greater than 2024 ◆ US banks benefit from cross-currency basis ◆ Bankers discuss Reverse Yankee pipeline

Wave of non-European names expected in euros while continent's corporates are in blackouts

Sovereign's first Swiss franc deal since 2009 provides strong cost savings

Bulk of the new loans will see margin fall if Saga cuts 4.6 times leverage

◆ Tightest non-preferred pricing since 2020 ◆ Spread nears Bankinter's previous preferred debt sales ◆ Supportive market even at tight valuations ◆ Light secondary performance down to limited premium

◆ Deal over 3x covered ◆ Peer supply 'only way to look at pricing' ◆ No-grow label helps deal

◆ Deal four times covered ◆ Walloon used as reference ◆ Higher than average tightening

◆ German lender enjoys window alone ◆ Eye-catching spread attracts bumper book ◆ Deal lands close to fair value

Swedish company presented first major results test in troubled auto sector

◆ First labelled 'European Green Bond' from an SSA ◆ 'A natural next step' for issuer and investors ◆ What difference does it make?

The good times don’t last and when they end, it's vicious

Full steam ahead though smaller lenders might face cross currency challenges