Euro
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◆ Inaugural green deal from issuer ◆ Low beta offering draws good order book ◆ Investors may be looking further up the capital stack -
Technicals trump geopolitics as investors chase yield and spread
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Fresh Nato commitments will test bond market capacity as major issuers reveal funding updates
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Nato commitment to ramp up defence spend a boon for defence sector debt chances
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Investor relations efforts and euro demand help issuer price at ‘ambitious but not unrealistic’ level
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◆ Issuer may be among final few before hiatus ◆ 'A strong outcome' for issuer ◆ Covered bond issuance has been making up lost ground
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◆ German supermarket chain brings three and seven year bonds ◆ Books keep growing even with guidance flat to fair value ◆ Volumes tipped to nosedive after this week
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◆ Italian bank came on the heels of Banco BPM deal ◆ Deal left 'some juice' to perform ◆ Rare issuer Klesia Prévoyance prints tier two
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◆ Largest deal and book sizes ◆ Strong demand for German SSAs ◆ Fairly priced after 2bp tightening
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◆ Issuer has 'a long history' in tier two market ◆ Deal follows recent US CRE exit news ◆ Fair value 'tricky' as investor feedback sought
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◆ First euro deal since January 2024 ◆ Timing and tightening 'just right' ◆ Peer issuance provides confidence
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The loan was provided by a triumvirate of banks
