Currencies

Slide away: downward sloping gilt curve drives up shorter spreads

◆ Deal takes size despite lower line availability ◆ Premium paid over comparable bonds ◆ Benchmark SpaBol’s second deal of 2024

Diageo, Lufthansa, Repsol and Schneider Electric among issuers raising euro funds

◆ Next to no premium needed for capped sale ◆ Demand holds firm despite price tightening ◆ Popular deal broadens investor base

◆ Market open to all ranks of borrowers ◆ ING gathers €2.75bn funding at 5bp NIP ◆ Cajamar shows smaller borrowers can print flat to FV

Caterpillar, National Grid North America sell bonds with minimal premiums

◆ Lower tier issuer to offer subordinated paper after major FIG issuers print ◆ Aims to increase capital with a second deal this year ◆ Allianz aims for broad demand with dollar tier two

◆ Digital participation broadens after months of marketing ◆ Benchmark sizes a way off but remain the goal ◆ Settlement period shrinks

The yen market has had a rocky month after the Bank of Japan raised interest rates

South African mining firm raised €500m through triple tranche green loan to fund Finnish lithium project

Busy week for domestic borrowers anticipated

Credit investors spy attractive entry points at wider spreads — but they won’t buy anything at any price