Euro
-
◆ Both borrowers comfortably oversubscribed ◆ Deals tightened above the 37bp average ◆ Little fatigue seen after a bumper May -
The bank printed Estonia's first ever international AT1 in February
-
June could be very busy as borrowers come early to exploit good conditions
-
European banks progress with capital raising as spreads tighten, but investor qualms grow
-
Investors nervous about duration and fear steepening, but new opportunities could open up for issuers
-
Issuers expected to squeeze in before tariff volatility returns and summer holidays start
-
AT1 issuance is expected to slow after recent burst of supply
-
Despite the latest legal development being ostensibly market pleasing, many feel little reason for cheer
-
Banks encouraging investors to lend to cut out competition from other banks
-
Modestly sized euro and dollar benchmarks are being prepped for next week
-
Issuer hopes to raise €750m from sustainability bond, likely a 10 year, after summer following this week’s large print
-
◆ Coupon lands at same level as Commerz AT1 a day earlier ◆ Investors 'want Greek bank risk' ◆ Pipeline for AT1 and RT1 'looks thinner'
