EMEA

New issue premium is in line with pre-tariff euro sovereign deals in CEE

◆ French bank finds window between market reopening and potential heightened new supply next week ◆ Five and 10 year senior preferred tranches its first in euros this year ◆ Longer one outperforms in both demand and pricing

Issuer finishes raising €4bn for this year after 'very different execution', with more — maybe longer — supply to come

Being ‘flexible and fast’ proves key for public sector issuers amid uncertain market backdrop

A wide spectrum of borrowers eyeing primary market after weeks of pause

As tariff storm eases, buyers grow more willing to move down the credit curve

‘A strong focus on a fast execution process’ aimed to minimise uncertainty and volatility, says sovereign’s funding head

The Italian gaming group has amended and extended the facility initially completed in 2023

◆ Bill Ackman’s firm offers chunky spread ◆ But investors only offer modest demand ◆ Company only has one other euro trade outstanding

The country's first election since a military coup has passed peacefully

◆ Larger new issue premiums required ◆ 6bp tighter than Bpifrance ◆ Size set at €2bn

◆ Combined book one of the sovereign’s largest ◆ Swap spread volatility observed overnight ◆ Issuer ‘did well not to stretch’ the pricing