EMEA

The lender only put one investment bank on the mandate, a rarity in Turkey

Inclusion of a variable rate instrument was not acceptable to official creditors

Book coverage ratios have also risen as sentiment improves in CEEMEA bond market

Issuer to focus on auctions and foreign currency opportunities including dollars and Swiss francs

◆ Issuer takes advantage of attractive sterling funding levels ◆ Printing during UK school holidays no problem for 'very well loved name' ◆ Sterling FIG senior undersupplied versus last year

If it looks like a covered bond, acts like a covered bond and prices like a covered bond, then it probably should be treated like one

◆ German bank achieves 'decent' pricing ◆ NIP paid, secondary performance predicted ◆ 'Smart' trade likely to help future issues, rival banker says

◆ Issuer ends six year absence with incredibly popular deal ◆ Curve shape fuel seven year demand ◆ Wide range of comps used

◆ Rare deal unhindered by softer market open ◆ Follows recent south European trades from Abanca, Bankinter, and CredEm ◆ Triple digit spread attracts 'quality' book

◆ New 2046 OT proves attractive to investors ◆ Book size and quality both pleasantly surprising ◆ Sovereign issuer pays its typical NIP

◆ Madrid lands at same level as 10 year ◆ Second EuGB from Madrid ◆ NWB makes euro benchmark 2026 debut

Two more follow Darwish and Safa leaving last month