Euro

Company’s last foray into benchmark euros saw it print small, then tap

◆ US bank funds in the single currency a day after hitting the US market ◆ 'Aaggressively' price tightening met by strong demand for duration ◆ CA Auto Bank sells FRN on Goldman's heels

◆ Deal seven times covered ◆ No premium paid to fair value or govvies ◆ French investors unsure on OAT spread, others happy to buy

◆ Huge final orders as company diversifies into euros ◆ Flat or negative concession offered ◆ Dollar and euro comparables used for pricing

French grocer has smooth outing as eyes turn towards Trump inauguration

SSA spreads present the only major hurdle for rampant covered bond revival

Senior issuance remains the preferred funding route for European banks despite impressive covered bond recovery

January volume spike makes no dent in mountain of cash investors are sitting on

◆ Dollar before euro for 2025 ◆ Record book, record size ◆ Savings of at least 2bp-3bp versus euros

◆ First US bank to print in euros this year ◆ Goldman's first issuance in single currency since 2022 ◆ Book nears €10bn

◆ Deal prices near fair value ◆ Minimal attrition in order book ◆ Asset managers assessing AT1s versus senior paper and equity

◆ Danish lender raises €2.25bn of bail-in debt in one go ◆ Offers visible premium to lure investors for its acquisition funding of Spar Nord Bank ◆ Issuance strategy positively deviates from the past