Currencies
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A floater, a green bond and an SLB walk into the bond market… -
Plastic Omnium mandates crossover deal after Metro got stuck at IPTs
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Hedge funds are more cautious and are 'thinking twice' before buying
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Well-funded SSA issuers take their time, but weak secondary performance worries bankers
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Belfius lands flat as Fineco prices with about 12.5bp of premium
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Sterling issuance has all but evaporated in recent weeks despite evidence of structural demand from UK investors. Even domestic issuers have snubbed the currency but suggest that some euro funders could be lured back
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Why lock in a high spread just because primary conditions are stellar?
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European primary market activity has thrived this year with the central bank gone from the market
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New investor base hungry for periphery and non-standard covered products
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Negative concessions and bumper books swapped for getting stuck at IPTs and paying double digit premiums
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◆ Eight foreign banks raise more than $18bn in three days as BMO adds another $1bn to multiple perps ◆ M&A funding also boosts February FIG volume to over $50bn ◆ Slow down felt by Thursday as spreads widen
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Germany SSA repricing needed but will Länder have to cheapen, or does KfW have room to tighten — and when?
