EMEA
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◆ Insurer appears amid 'great' market ◆ New deal is seen offering no new issue premium ◆ Tier two capital 'appears' to be refinancing legacy perp, says CreditSights -
◆ NordLB achieves price with capped size ◆ Commerzbank squeezes €750m from slim book ◆ Low single digit premiums paid
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Issuer says 1bp of greenium was achieved with pricing
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◆ Takes larger size than expected ◆ Tightens 3bp to leave minimal premium ◆ French issuers fairly well funded before the summer
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Longer tranches added during syndication off back of lender demand
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◆ IG corporates continue cramming into market ◆ RWE hybrid a standout with €10.5bn demand ◆ Most deals have no-grow tag
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International bond issuance will still be lower than many of the past few years
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◆ More IG corporates bring EuGBs ◆ Norsk Hydro looks to print inside fair value ◆ Covivio lands flat
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◆ French issuer closes in on 2025 funding target ◆ Single digit pick-up offered over tight core European names ◆ Little to no premium needed for a sizeable trade
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Lending activity picks up in four central European countries
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BEH will add to a busy period for state-owned issuance in CEEMEA
