Currencies

The bank will update its SDB framework this year for the first time

Issuer hopes to issue a $1bn three year bond ‘in the following days’

Market recovers from shaky start as smart pricing draws huge order books

◆ Foreign quartet prices $9.25bn across the capital stack in three days ◆ SocGen joins the post-CPI flow on Thursday ◆ US money-center banks expected to unleash issuance after earnings

Issuers and bankers debate whether pricing against swap rates will become the norm or remain an exception

Vonovia and Traton attract whopping order books for their first deals in the currency, leading to hopes of more new issuers

Chilean bank targets gap in the market with three year deal

◆ Portuguese lender lands deeply subordinated capital deal far tighter than when it first intended to call old note in November ◆ 'Super strong' market for FIG capital serves a tailwind ◆ 50bp tightening from IPTs

◆ Spanish bank parent takes out £600m at seven year maturity ◆ Deal comes at a premium to euros but broadens its diversification drive across markets, issuing entities ◆ UK lender OSB Group improves on senior debut

Société Générale becomes fourth issuer to launch senior FRN in euros this year

Debut in sterling wins whopping £3.25bn final book

The sovereign attracted a large book after record-breaking deals from peers