EMEA

◆ Second French FIG sterling deal of the week spotted pricing inside euros ◆ Fourth currency of the year for BFCM ◆ Crédit Agricole marketing Samurai after printing in multiple other markets

New issue was premium was minimal, at worst

Very little — if any — premium left for the Public Investment Fund, a major shareholder

The national champion's AT1 has a smaller investment pool than recent Saudi AT1 sukuk

CEO named for new branch, more hires to follow

◆ Autos keep piling into the short end ◆ Issuer skips guidance on huge demand ◆ Deal lands through fair value

◆ €10bn blockbuster launched with €100bn-plus book ◆ ‘Very good start to the year,’ says issuer ◆ Diversification targeted and achieved

◆ Deal smashes through previous record ◆ Longer tenor helps compress the spread ◆ Strong demand buoys hybrid market

◆ UniPol's first issuance since reorganisation in early 2025 ◆ Book grew after spread tightening ◆ Tier one supply will be 'scarce' in 2026, predicts banker

Financing consists of three tranches of loan facilities

◆ Belgian investment firm returns after two-year absence ◆ Strong 10 year point draws hefty demand for extra spread ◆ Orderbook attrition stays low

◆ German state brings fresh paper after KfW sets benchmark ◆ Appropriate spread to KfW dominates discussion ◆ Has market weakened from last week?