EMEA
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Bulk of the new loans will see margin fall if Saga cuts 4.6 times leverage
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◆ Deal over 3x covered ◆ Peer supply 'only way to look at pricing' ◆ No-grow label helps deal
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◆ Deal four times covered ◆ Walloon used as reference ◆ Higher than average tightening
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◆ German lender enjoys window alone ◆ Eye-catching spread attracts bumper book ◆ Deal lands close to fair value
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Swedish company presented first major results test in troubled auto sector
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Three high yield trades on Tuesday drew healthy demand
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◆ First labelled 'European Green Bond' from an SSA ◆ 'A natural next step' for issuer and investors ◆ What difference does it make?
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Full steam ahead though smaller lenders might face cross currency challenges
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◆ Minimal new issue premium paid ◆ Demand still strong towards end of busy January ◆ Another chance for investors to buy green EGBs
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Investors show they can differentiate between credits in troubled UK water sector
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◆ Longest trade in euros for SEK ◆ Book almost three times covered ◆ Rarity helps with tight pricing
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◆ Deal is BHH's last before LBBW integration ◆ Investors eager to buy but last deal status not main driver ◆ Small pick-up to SSAs