Currencies
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Italian banks flock to the euro bond market to refinance before TLTRO deadlines -
Talanx and owner HDI sold stock to boost the insurer’s indexation profile
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Borrower has €3bn left to fund this year and has identified one currency in particular for issuance
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Supra lands close to fair value amid supply rush, according to lead
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Labels and length as issuers offer duration to market where 'mis-steps' still possible
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Retail holdco sees solid demand, but spread started in 300s
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New name for the National Express attracts limp demand
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Issuer completes sterling funding at better levels than its recent euro outing
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◆ Investors prefer larger names, but opportunities remain ◆ HCB and Sondrio return to euro senior market
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Each issuer offered much wider spread than core covered bonds and at least 10bp of premium to ensure successful execution
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◆ BNP Paribas sells longest senior euro note since July ◆ Slim 2bp-3bp concession needed ◆ Investors hungry for duration with accounts interest out to 30 years
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Deal priced in line with IPTs with no book updates
