Euro
-
Issuance recovers from last week’s wobble but concerns linger after issuers like KfW widen -
'Great' market conditions are not immune to central bank surprises and fund inflow changes
-
◆ Third benchmark SP from the Landesbank becomes year's tightest ◆ This brought challenges and price discovery ◆ Higher new issue premium compensated with 'good' foreign buying
-
Loans to sectors linked to government spending or regulation could be impacted
-
◆ Sole management enables quick sale ◆ Debate on fair value but some concession left ◆ Big green bond comes between two SNP redemptions
-
Paper could arrive on Monday or Tuesday, ahead of flagship covered market event
-
Major corporates pile into short end of the private placement market
-
Project financings have stood out so far this year
-
◆ Both issuers shake off different macro uncertainties ◆ Geopolitical spike no hindrance for RBI's AT1 refi ◆ Société Générale erases concession despite French political risk
-
◆ Sovereign rides post-EU momentum, beats size target ◆ Deal priced flat to fair value ◆ Thuringia oversubscribed but Länder books shrink
-
◆ Whopping demand for Danish logistics group ◆ Deal lands comfortably inside fair value ◆ Green label helps execution
-
◆ Deal attracts granular book for a Pfandbrief ◆ Premium paid but outcome still 'fair' ◆ Elsewhere, Finnish sub-benchmark deal proves popular
