Euro

◆ Danish bank dodges rates volatility and price sensitivity to print with large book ◆ London-based accounts show big interest ◆ Funding ahead to take advantage of favourable market

Deal pipeline quietly building in undersupplied market

Neddies has funded €6bn so far this year and might reappear in dollar market

French agency hopes to be a regular in sterling market

◆ ECB rate cut seen as all but certain next week but rates outlook to drive sentiment in primary market ◆ Investors may turn more selective ◆ Profit taking tipped after spread tightening

◆ New Singaporean names come close to established peers ◆ Deal follows several months of marketing

◆ Deal swells from initial size ◆ No premium needed to seal larger print

◆ Danske saves with three year floater ◆ No NIP needed for Danske’s seven year tranche ◆ DNB’s €1bn print only just covered

Deal turned out larger than some had expected

Investors have plenty of choice between short and long as well as green and conventional

◆ Senior preferred format helps mitigate execution risk ◆ Issuer shifts larger funding into shorter FRN ◆ Rates volatility back on the agenda

Volumes higher and pricing more aggressive than a year ago