Currencies
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Single-A rated corporate paid only 5bp more than recent triple-A paper -
The issuer has sold about $2bn in green and social bonds in its fiscal year so far
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Two deals demonstrated ample demand for covered bonds across the maturity curve
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Deals follow recent narrative of levfin market dominated by refis and financing for smaller bolt-ons
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With covered bond new issue premiums in decline, French banks issued short and long dated tranches as more issuers prepare to print
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Structure’s pioneer heads out to furthest end of curve
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Rarer names and currencies are proving popular with investors
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Issuers are squeezing every last drop out of the buoyant primary FIG market with Nordic borrower bringing a deal on a Friday but widening suggests bigger NIPs coming
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French issuer prints with 2bp-3bp NIP amid strong FIG primary market
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The issuer served up an untapped maturity in 2023 - seven years
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Lack of new bonds from the sector helped to push Lonza's latest note through fair value
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The multilateral issuer intends to fund in euros at least once a year after the currency proved more cost-efficient than dollars this week
