EMEA
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◆ LF Bank finds 'some resistance' to spread tightening ◆ Big divergence on FV ◆ Novo Banco spread 'astonishing' -
◆ German states are performing well ◆ Placing fair value for the Länder segment is hard ◆ 15-year deal tightened 3bp
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A straight dollar bond is the most likely format, but it has discussed other options
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Vacancy filled following Jessica Pulay's promotion to be chief last year
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Sustainability-linked revolver refinanced two years early
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◆ Small French name attracts €3bn book ◆ Almost no premium needed ◆ Small pick-up to OATs no problem
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◆ French agency begins fundraising for 2025 ◆ New deal upsized from $2bn ◆ Programme is smaller this year
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◆ Investors show little concern over sterling instability ◆ Deal comes flat to fair value ◆ Prices flat to peers and inside recent SSA supply
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◆ Sovereign returns with its usual January trade ◆ Book was larger than for recent Greek deals ◆ Positive momentum continues
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◆ Sentiment towards CRE exposed issuers far cry from February 2024's lows ◆ Aareal eyes replacing AT1 it has extended since April 2020 ◆ Switches from euros to dollars due to costs
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◆ KEB Hana readies first non-European euro covered since October ◆ BSH to tap Pfandbrief demand ◆ Crédit Agricole plots public sector deal
