Currencies
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Lenders and investors say a new approach to what 'ESG friendly' means is needed -
US bank and several insurers dominate issuance
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Tight spread failed to put investors off European supra's dollar bond
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World Bank group issuer returns to dollars for a record $4bn
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◆ Rival bankers ‘surprised’ at starting level ◆ Speculation about ‘low-quality accounts’ in order book ◆ Timing ‘wasn’t the best’
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It ‘makes sense for investors to start adding’ IG corporates to portfolios, according to one portfolio manager
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Usual fourth syndication to follow after the summer
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◆ UK insurer chooses dollar market for double refi ◆ Will buy back RT1 and tier two but prioritise the former ◆ Recent issuance suggests price advantage in dollars over sterling
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◆ Coventry Building Society orders reached £4bn ◆ Banco Santander finds price sensitive investors ◆ New issue premiums vary
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Dutch agency prices 1bp back of World Bank Group borrower in ‘white hot’ market
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Issuer prices flat to secondary curve as investors chase Spanish agency bonds
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◆ Bank sells its first public sector covered since July ◆ Deal lands flat to fair value ◆ Crédit Agricole diversifies away from the short end
