Euro

Bankers away say 12 year “good value” while dual structure a “defensive approach”

Swedish issuer bags largest ever print in single currency with first syndication of 2024

◆ Deterioration in market sentiment but Handelsbanken prices close to fair value, and even inside by some estimates ◆ CRE exposures under microscope ◆ Strong earnings, comfortable capitalisation assure investors

US companies slash spreads as good mood in euros persists

International accounts swell orders up to €2.5bn as spread lands below 70bp

Primary activity is set to ease into next week as Lunar New Year holidays take place

Push for long end debt appears to be dwindling

Rival bankers suggest €1.25bn book size ‘quite modest’

Investor demand for 10 year covered bonds expected to lead to 'positive outcome' for LBBW deal

◆ ING goes double with €2.5bn deal at belly and long ends of the curve a day after $1.25bn AT1 ◆ BNPP follows with similar strategy with €1.5bn SNP ◆ Both long end tranches land at FV

◆ Swedish lender prints $650m Reg S deal well inside fair value estimates ◆ Jyske prices largest ever AT1 deal ◆ Lower volume of Nordic capital supply and benign market conditions act as tailwinds

Huge leap as investors snap up real estate credit again