Euro

◆ Deal the first of its kind from a bank to be explicitly earmarked for defence financing ◆ External review similar to green bonds ◆ Five year senior preferred offering planned

◆ Slim premium paid for popular deal ◆ Outstanding bonds ignored during pricing ◆ Good chance to pick up high spread UniCredit exposure

◆ Heightened sensitivity towards second tier issuers drives demand ◆ Jyske tier two and BAWAG senior preferred lose orders due to tighter spreads... ◆ ... but wider spreads on PBB and Arion attract buyers

◆ More agencies bite the bullet to issue after confidence vote surprise ◆ AFL keeps commitment to sterling ◆ Bpifrance follows SNCF into popular euros

◆ CAF record breaker as bond 'flies' in secondary ◆ IDA unscathed by recent volatility ◆ Investors and issuers both favour seven year segment

◆ Dutch machinery maker prints a 10 year bond ◆ Orders drop 39% from peak during bookbuilding ◆ Orderbook attrition back in focus among bankers

◆ Electric utilities back in size as primary reopens ◆ Strong books despite tight prints ◆ EDP joins the EuGB cohort

Issuer blazes through smoking hot market ◆ Deal prices through fair value ◆ Spread to senior curve 20bp inside year's other tight trades

◆ Deal prices through fair value ◆ Strong bid for non-European names on display ◆ Trade spotted tighter post-pricing

◆ Rival bankers discuss pricing approach ◆ Debate on whether IPTs start wider now ◆ Austrian syndication targets 'sweet spot' and draws bids

◆ French government at risk of collapsing, again ◆ 'Roller-coaster ride' but issuer comes out unscathed ◆ Finding a 'good starting point' key

◆ Well funded issuer takes aim at tight long end spreads ◆ Achieves 'very beneficial' spread even after slight premium paid ◆ Smaller size helps