Euro

◆ Deal works for all as issuer gains better standing with rating agencies ◆ Stream of FRNs helps with fair value assessment ◆ Green element lowers issuer’s borrowing costs

Trend for wider starting price thoughts comes into question

Italian company is latest in a string of deals to get glowing reception from deal starved market

◆ Deal priced tight by a number of metrics ◆ Hefty oversubscription shows robust demand for FIG capital ◆ Trade clears flat to fair value compared with 10bp-15bp NIP for senior preferred at start of January

Investors with short dated needs finally fed a deal

Demand continues to far outstrip supply in IG corporate market

Bankers disagree about whether fatigue for 10 year deals is growing

BBB- rated real estate company garners big orders as real estate’s popularity soars

Food service company sees chunky order book for sustainable debt

Bankers away from Argenta’s trade say pricing started wide

◆ German issuer's new deal fits within the 20bp-25bp differential for SP and SNP bonds of tight European FIG names ◆ Tenor matches investors' and issuers' 'sweet spot' ◆ Majority sold in Germany where DekaBank enjoys strong name recognition

Bankers say primary covered market remains in great shape