Euro

Portuguese lender hopes to emulate the success of peers’ recent blowout sales

Fair value is seen around high-20bp with more than 10bp of pick-up versus KfW

Deal priced flat to fair value as UK asset mangers likely buyers

High grade corporate bond market maintains its strong run

‘Difficult to argue against this trade’, said one lead

◆ Danish bank raises €800m from two short dated tranches priced through FV ◆ Conducting refi across capital stack as it also prepares covered bond in Swedish kronor ◆ Orix to tap euro and Aussie markets

'Safer' public sector cover pools avoid tricky commercial real estate exposure discussions

Investors offered high grade euro mandates from newcomer Epiroc and Portugal's Ren

United Utilities, Securitas and Klépierre come on usually quiet day

Bankers highlight that the German Pfandbrief market is 'well protected'

Signs of indigestion in the market after record buying from investors

Nothing on horizon to hold market back once earnings blackouts end