Currencies
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◆ First euro AT1 in almost two months ◆ Demand is strong but premium required ◆ Changed balance between investors and dealers -
Clamour for 20 year deals still loud, despite uncertainty about speed of rate cuts
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The long eight year tenor appealed to all sorts of investors, who pledged almost €2.6bn of orders
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Strong duration bid saw larger-than-usual tightening and skinny concession for long-dated tap
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Borrower lights the way for bulging books and negative concessions
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◆ GACM 'a good name' and should garner orders ◆ Crelan had delayed debut last week ◆ Investors may turn to tier two for spread, though some bankers less constructive
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Reverse Yankee issuers find far calmer market than a week ago
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Mitsubishi HC brings FIG floating fun to corporate market
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Upcoming deal could price in the low 30s over mid-swaps
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Buying the bond at a premium to parent RBI is a 'no-brainer', according to a lead manager
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Trades line up as IG corporate market finishes week strongly
