Euro
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◆ Debut deal spotted tighter in secondary ◆ Some investors keen to get lines in place for future issues ◆ Buyers fine with unusual structure -
Bank capital issuance spree set to run as investors lap up even lower credits
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Borrowers’ focus on how far a deal moves during bookbuilding leaves many baffled
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Rising supply and a lack of secondary market performance put investors off covered bonds
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New issue concessions creep up as smaller, less liquid issuers suffer
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Borrowers fill screens on Thursday after poor market open a day earlier kept issuers away
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◆ Issuer meets target with debut deal ◆ Deal comes 2bp back of recent Italian supply ◆ Trade follows two day marketing period
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◆ Big orders and minimal premium for senior sale ◆ NatWest brings affordable housing bond ◆ Dutch debut from Triodos
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◆ More tightening ‘doesn’t feel like the right thing to do’ ◆ New framework maintains dark green rating ◆ Dollar FRN on the table
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Borrower explains August's bond for loan swap
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◆ Starting level was wider than some expected ◆ New issue premium ‘creeping up’ in recent weeks ◆ New framework gets S&P rating
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◆ ’One of the best trades’ from the past two weeks ◆ Dutch agency chooses short maturity ◆ NIPs have ‘crept up’ but deal priced tight
