EMEA
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Gulf AT1 issuance is much higher than last year, tiring out investors -
Second digital project won’t be the issuer’s last, Länder peers may be ‘interested and willing’ to join in
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The trade, like previous yen issuance, carries a guarantee
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◆ Half-year close keeps some issuers on sidelines ◆ Bankers expect big euro supply to come ◆ More concession on pricing could be required
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◆ Scottish Hydro tests long-dated sterling demand ◆ Tight pricing limits further tightening from guidance ◆ Cadent extends its euro curve with 10 year trade
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◆ German utilities taps improving bond market ◆ Demand holds firm across six and 11 year tranches ◆ Fair value debated
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Deal looks to satisfy demand for highly-rated long-dated covered bonds
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The bank was set to price about 25bp over fair value
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The lender offered a premium of about 35bp to the top-tier UAE bank issuers
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Investors in CEE corporate debt find Orlen a 'preferred asset'
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ECA-backed deal comes after AFC raises $2bn to fund infrastructure development
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◆ Both tranches well received ◆ Improvement on 'weak' Achmea deal from last weak, rival banker says ◆ Fair value debated
