Currencies

Subscription ratio of 5.7 but rival bankers debate premium

UK lender prints largest single tranche covered bond from a foreign issuer since last August

Bankers away from mandate question fair value estimate from syndicate

Duration, ESG structure and rating help the company secure more than five times subscribed book

◆ Big premium at starting level erased completely by pricing ◆ Dollar destination of choice for AT1 issuers ◆ Second example of new structure from BNP Paribas

US issuer lands 'outstanding' deal, prompts hopes it could spur Reverse Yankee issuance

◆ Leasing company returns at the three year part of curve a month after issuing €1.5bn in fours and sevens ◆ New deal adds more supply to frequently tapped short end of the curve ◆ Pays about 5bp-10bp NIP but prices tighter than recent three and four year notes

Investors ‘could become more selective’ over 10 year deals

Embattled company’s long dated spreads resilient despite new defensive plan and S&P downgrade

Euro bond investors put in orders 5.1 times the deal size as issuers smash records

◆ Deal ends with the largest book for a BPER senior trade GlobalCapital has tracked in recent years ◆ Pricing is flat if not inside FV ◆ Green deal sends encouraging signals to the periphery's other less frequent issuers

Europe’s IG corporate bond market is in danger of finding out how many straws it takes to break a camel’s back