Currencies
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Life sciences group sees investors falling over themselves to buy its debt
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TSB had the option to print a tighter deal but in smaller size
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◆ Bank aims for volume in the currency ◆ First deal since 2021 adds scarcity appeal ◆ Longer than five year maturity helped by Gilts outperformance
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The Canadian bank has issued covered bonds across four currencies in two weeks
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◆ Inaugural deal starts 40bp-50bp back of fair value ◆ BFCM's social sale proves popular as investors pledge €2.9bn
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Neither issuer has left much on the table for investors
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Swiss franc market offered alternative to US PP for Chilean coke bottling franchise
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NIB lands tight pricing as IADB goes long
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From top end high yield to A- rated debutants, investors had a plethora of choice
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Swedish borrower builds curve to fund acquisition
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◆ Competing supply weighs on demand for Ifis deal ◆ Illiquid curve makes deriving a premium tricky ◆ Mediobanca adds to Italian labelled supply