Currencies

◆ Hybrid regular Veolia sells new perp ◆ Senior/sub spread lands in low-100bp ◆ Carrefour more than six times subscribed on €650m deal

◆ Young issuer adds new currency ◆ €9bn book for €500m print, no NIP needed ◆ Results 'simply beyond what was expected'

◆ Sterling market embraces FABN duration and issuance proximity ◆ Longest publicly marketed deal by multiple arrangers ◆ Athene pays premium in sterling but saves versus dollars

◆ Investors eye high beta names ◆ Possible negative premium paid ◆ Fair value debated

◆ New deal becomes longest issued by a Canadian bank since 2020 in both euros and sterling ◆ Provides clear arb to US dollars ◆ Bolsters TD's funding spree in Aussie, Canadian and US dollars

◆ Swiss food giant issues eight and 13 year notes ◆ Last Nestlé's euro issuance for 2025 ◆ Inmobiliaria Colonial adds €800m green deal

◆ First Finnish tier one FIG capital public sale in euros since at least 2020 ◆ Insurer to redeem tier two capital early ◆ First euro RT1 since July

◆ Issuer's second largest book ever ◆ Last benchmark of year ◆ Average NIP has shrunk this year

◆ Priced over Austrian govvies ◆ Scarcity and business model help demand ◆ Saskatchewan targets 10 year

Banker had worked at DB for 14 years

◆ A3 rated exchanges group prints long three and seven year paper ◆ Orderbook holds firm at £4.5bn ◆ Sterling depth proven ahead of BoE decision

Some deals struggled to get covered, but overall subscription ratio has been high