Euro
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A corner of the UK market has provided one of the few pain trades so far since war broke out in the Middle East -
HSBC and SEB opt for senior funding in dollars as Deutsche Bank turns to renminbi
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Most European lenders have limited exposure to the region, but analysts say energy shocks are the bigger risk for bank credit
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◆ Over €5bn in Reverse Yankees placed on Thursday ◆ More IG corporate bonds to follow, including potential Friday deals ◆ Volatility makes spotting new issue premiums tricky
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◆ Pricing tightened on inaugaral five year ◆ Spread over federal states ◆ Shorter-dated bonds safest
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New 30 year launched even as geopolitics and volatility dampen sentiment, and the issuer explains why and how
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◆ Capped size helped lead to strong outcome ◆ Low single digit concessions needed for both tranches ◆ Floating rate tranche taps into money market demand
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Deal has two tranches, company last came to market in 2024
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Oilfield services company readies four-tranche Reverse Yankee
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Primary issuance conditions were looking great before latest Middle East war brought uncertainty
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Elevated NIPs not to be uniform, with some sectors set to pay more than others
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French bank retains overall top spot in euro market, Crédit Agricole leads in senior and JP Morgan in third-party capital sales
