Currencies

Borrower lands short maturity deal with single digit concession

◆ UK bank issues its only outstanding Aussie tier two ◆ Second capital deal within a week sold outside of core markets ◆ Funding official says diversification motivated the rare deals

The cost of funding was flat to euros

Pricing tension rising at the edges of the market as money lured into public debt

Sobi plans to repay debt from an acquisition through a non-underwritten rights issue

Deals from three to 10 years sail through this week as market returns

◆ The two banks restart senior issuance from national champions ◆ Intesa takes double the funding in eight year tranche than in four year one ◆ Mizuho’s seven year gets ‘extra boost’ from green label

◆ Bank attracts £455m of orders for £500m print ◆ Price-sensitive investors resist 7bp move ◆ Bond holds firm on the offer side post-pricing, ask spotted 5bp wider

◆ Lloyds to diversify its capital raising into Aussie dollars following Singapore dollar debut last week ◆ Asian and European investors expected to take part ◆ Mizuho raises A$400m with EMTN deal

Rare longer dated deal offers investors something a little different

Higher rates amplify asset class' attractiveness as summer break comes to an end

◆ Issuer achieves the largest euro subordinated FIG trade in three months ◆ Deal praised for quality but investors show price sensitivity ◆ Views on NIP deviate from 5bp to 25bp