Currencies

German agency gets €19bn of orders despite slowdown before holiday

Borrowers raise total of £400m from quiet market

Corporate bond market ends quarter as strongly as it began

◆ Deal lures investors amid lack of euro issuance this week ◆ Moves in pricing by 35bp from IPTs on 6NC5 deal ◆ Follows after S$400m SNP diversification

◆ Improved dynamics in the sterling market have lured issuers across senior and covered markets this week ◆ Lloyds' offering is among the rare deals from top UK borrowers ◆ Issuers funds with 5bp NIP

Leeds Building Society is lining up a similar five year deal for £500m

Agency achieves record tightening, plans at least one other public bond in 2024

Week starts with a high beta tone as issuers prepare to cram into a short window

◆ Issuer hits sterling market days after similar dollar foray ◆ Tight price, short maturity pushes off some investors ◆ 'Price over size' aspiration achieved

Lender's Singapore entity could issue its debut euro covered bond following non-deal roadshow

◆ Bank remains 'ready' to issue an AT1 if market is there ◆ RBI expects its planned Russia exit through Strabag equity stake purchase to go ahead ◆ Old AT1 unlikely to be called in June

New factors suggest bank bond issuers will find even better funding market if they wait until after Easter