EMEA
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◆ Deal is first since French PM called confidence vote ◆ Some concession left on top of wider secondary levels ◆ Bankers call French covered paper 'attractive' -
◆ Spanish borrower brings another green print to euros ◆ Peak orders more than three times deal size ◆ Tight spreads persist for IG corporates
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◆ French issuers pile into market ◆ Both borrowers push hard on spread ◆ Other French names expected before September 8 government vote
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Markus Stix explains the sovereign's approach to recent euro syndication
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Deals progressing as expected, despite a clear shift in neighbouring bond market
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◆ The new issue premium investors demand amid French political uncertainty ◆ Robust demand regardless of political factors ◆ Order book attrition as spread tightened
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◆ More agencies bite the bullet to issue after confidence vote surprise ◆ AFL keeps commitment to sterling ◆ Bpifrance follows SNCF into popular euros
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◆ Issuer ends dollar absence ◆ Market expected euro deal but decision was strategic ◆ Record book reveals 'pent-up demand' in dollars
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◆ Dutch machinery maker prints a 10 year bond ◆ Orders drop 39% from peak during bookbuilding ◆ Orderbook attrition back in focus among bankers
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◆ Electric utilities back in size as primary reopens ◆ Strong books despite tight prints ◆ EDP joins the EuGB cohort
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Issuer blazes through smoking hot market ◆ Deal prices through fair value ◆ Spread to senior curve 20bp inside year's other tight trades
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Near $1bn attrition from an order book on Tuesday shows buyers have limits
