EMEA

The energy firm hopes to issue new vanilla bonds in the near future

UK bank spreads calm and Gilt yields stable but all eyes turn to less predictable French elections

European IPOs on pause as France votes, and September window is extremely narrow

As Bastille Day — and the start of what is often a lull in capital markets — approaches, the fate of billions of euros of FIG and corporate bonds lies at the whim of UK and France voters

Market awaits EU’s lead once election volatility subsides

Governments on the continent face a tricky time balancing needs of population with demands of overseas lenders

◆ Rapid bookbuild ◆ Investors ‘don’t care’ as issuer pays negligible concession ◆ Tenor maximises Bund spread

Spread pressure will rise as earnings return to growth for the first time in five quarters

Third step of Clariane's four-legged debt restructuring plan was 1.67 times oversubscribed

Market expected to shut after Wednesday as UK elections and US holiday loom

◆ Austrian lender nearly four times covered ◆ Bankers question whether the deal started wide despite double digit tightening

Investors are cautious but the deal is “a good test" of the current environment