Currencies

French banks are satisfying their appetite for long dated covered funding but whether infrequent core eurozone issuers can replicate this success remains to be seen

The first covered bond from a Spanish bank since February 2023 was priced with a lower premium than deals done a year ago

Logistics company pushes hard as similar trade from Sixt takes more moderate approach

Marks continuation of bumper new issues from European sovereigns

◆ Strong backdrop means Greek banks issuing no longer 'top of the market' ◆ Oversubscribed deal results in one of the lowest reset spreads on Greek tier two, no NIP ◆ CA Auto Bank issues €900m two year FRN

EBRD and BNG are both met with unprecedented demand

Opportunities for rare names remain, despite investors looking for higher new issue premiums

Despite an unexpected and violent widening of spreads on the second trading day of 2024, the unsecured FIG market has moved from strength to strength so far in January

New covered deals clear with 3bp-5bp NIP despite softer tone, paving the way for less frequent and periphery borrowers to advance their funding

Croatia's Erste & Steiermärkische Bank next up for CEE FIG as it prepares to add green label to its second senior euro foray

Another Nordic issuer also appeared in euros for the first time in 2024

Issuers see good demand in euro and sterling as outlook turns gloomy