Currencies

US banks may find a willing audience in euros but that will add to complications for European issuers as they look to start early on 2024 funding

French bank back for the third time in two weeks with a three tranche Kangaroo

◆ Bank pushes forward to raise capital outside of home market ◆ $750m deal rumoured close to 15 times covered at peak book ◆ Deal benefits from government support making it different to other AT1s

◆ Investors primed to book US financials amid supply scarcity ◆ US banks lift $22.7bn in three days ◆ US Bancorp joins on Thursday, MUFG adds ultra-popular Yankee AT1

Asset-liability management exercises may become more popular as investor credit lines fill

LatAm development bank follows seven other issuers into the market this week as supply hits $7bn

◆ Heavy January supply and higher NIPs will spur pre-funding ◆ Earnings blackouts, rates and geopolitical tensions are curbing issuance ◆ Montepio waits for stability

Spreads tipped to widen as uncertainty reigns

Railway operator is the latest in a string of Korean issuers to have come to the Swiss franc market for funding

◆ Banco Montepio targets high 9% ◆ Dollars on fire, euros solid ◆ Size slashed by Czech lender

Rare issuer builds chunky demand after shaky start to the week for corporate issuers

◆ Bank pushes forward to raise capital outside of home market ◆ $750m deal attracts $7.5bn demand by New York open ◆ Deal benefits from government support making it different to other AT1s