Euro

◆ BMO final orders drop by €1.4bn as issuer ‘solved for optimal price’ ◆ Tightening of final spread ‘cost them some orders’ say rival bankers ◆ ‘A great trade’ that was ‘priced at pinpoint’ according to a syndicate lead

◆ Issuer notches sharpest tightening since rebranding to land €500m three year close to FV ◆ Virtually no investor drops ◆ BFF Bank may launch social debut on Friday

Rare name sends spreads hurtling tighter during bookbuilding

◆ Bankers away from syndicate praise the outcome ◆ ‘A good test’ for next week when volumes are expected to increase ◆ Recent volatility reflects ‘recalibration, not reassessment’ of risk

Residential real estate company cruises through despite billions in losses

Investors pledged over €875m of orders for the sub-benchmark sized deal

◆ Investor demand for FRNs is ‘not something you would expect’ ◆ Rare callable format works for issuers ◆ Money market and short credit funds among the buyers

Good vibes from March’s roaring issuance window expected to continue into Q2

The French bank attracted a peak book of over €2.65bn

TD has been the only Canadian bank to visit the market this year so far

◆ Ireland's Permanent TSB Bank has 'reasonable credit story' ◆ Italian BFF offering 'could be interesting test' ◆ Rates volatility and reduced liquidity could pose challenges

Waiting till nearer summer to print could give banks even cheaper costs of funding