Currencies

◆ Pricing comes tighter than where LBBW and Helaba last issued similar SNP floaters ◆ Deal will enhance BayernLB's credit rating

KommuneKredit, CDC and MuniFin keep euro and dollar investors busy

Long tenor and green label help French agency tighten pricing within fair value

IADB, DBJ and CPPIB all grabbed large order books

◆ Strong market conditions allow banks to fund through fair value ◆ Ibercaja achieves pricing with 15bp negative NIP as its deals ends up almost 10 times subscribed ◆ New York life increases size of seven year FA-backed trade

Investors pile $6.1bn into rare print

New July 2054 attracts one of the sovereign’s largest order books, according to lead

◆ Danish bank issues €500m in its largest euro tier two, raising €200m new capital ◆ Eye-catching spread of 250bp results in oversubscription ◆ Starts tender for old €300m tier two ahead of call

Supra’s first syndication of 2024 was bigger and priced tighter than expected

Roaring conditions tipped to remain until February as only intraday deals possible for now

◆ Duration and spread demand dictate investor demand even at tighter valuations ◆ Rabo exemplifies this trend into a €1bn 10.5 year SNP that was more than six times subscribed ◆ NBG and CIBC also print with arguably no concessions left

Borrower hits screens despite mayhem at its holding company