EMEA
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◆ First sterling benchmark from UK water this year ◆ Lands inside fair value ◆ Comes amid wild moves in rates market -
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◆ New €5bn line opened against ‘not easy’ backdrop ◆ Planned long-end OLO turned out to be 2042 ◆ Flexibility once again serves sovereign well
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Loan brings to total revolving credit to £850m
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An €800bn defence package was unveiled ahead Thursday's special defence summit
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Bonds have only dropped a few cash points since last week
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Listed investment company is striving to cut debt costs
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Scope warns country is ‘heading towards difficult budgetary trade-offs’ with increased defence spending
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◆ Dutch insurance company prepares deeply subordinated issue amid weaker market ◆ But FIG's fundamentals unchanged ◆ Spike in rates may boost demand from yield buyers
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Leads to use comparables ranging from South Korea to Denmark when pricing upcoming deal
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◆ Not covered but not uncommon ◆ Prices around 2bp through fixed rate curve ◆ More German state supply expected
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German issuer's own comparable tenor deals disregarded in favour of more recent peer supply
