Currencies
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Non-core currencies are giving European banks a funding afterparty, after time was called on the rally in core markets, where borrowing costs have risen -
Tightening of price guidance on new Yankee deals for FIG issuers has decreased as US investors consider prospect of more rate rises
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Super-tight pricings continue but issuers shy away from long end
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… as long as it’s for the right price
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Dutch issuer’s success suggests long term investors are looking to add riskier debt
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A hefty yield, the issuer’s improved earnings and the choice of a defensive structure lured investors to MPS’s deal and could encourage other issuers
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Following new deal, UK lender is still looking to issue £500m-£2.5bn of subordinated debt this year
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Pricing on the 10 year tranche was ‘very close to, if not at, fair value’
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The sovereign plans to add to an existing 30 year benchmark
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Issuer prices deal with 2bp-3bp of concession but views divided on fair value
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Aviation leasing company refinances term loan A with Libor deal
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Issuer gets long 12 year tighter to Gilts than long seven year
