Euro

◆ New deal to replace AT1 from October 2020 ◆ Resistance to tight pricing building ◆ Market watches the 300bp euro reset barrier

◆ Brewer taps 'sweetest spot' for duration ◆ Sharper tightening on one tranche than the other ◆ World Cup is expected to support sales volumes for the issuer

◆ Madrid plans 10 year deal ◆ Bpifrance set to launch EuGB ◆ MuniFin 'rare and well regarded'

Recent Italy syndication prompts talk of change in how sovereigns manage syndicates

◆ LVMH draws heavy demand despite share price slide ◆ Longer tranche takes bigger bite of interest ◆ Both lines land with slim concessions

◆ Market conditions made going ahead an "easy decision" ◆ Two-year FRN priced flat to fair value ◆ Floaters' secondary liquidity debated

◆ €3.25bn of new issuance comes as Goldman Sachs brings €7bn across four tranches ◆ 'Surprise' as two US names proice on same day ◆ Positive concession might force European banks to pay more next week

Market participants debate 300bp 'soft barrier' for AT1 resets as banks probe ever-improving cost of capital

‘Amazing’ reception for long dated syndications but issuers explore different options amid persistant duration risk

◆ T-Mobile sees strongest pull in 12 year tranche ◆ W. P. Carey brings no-grow €1bn dual trancher ◆ Ford raises €1.5bn split across two lines

◆ More than €20bn of orders at peak ◆ Up to 10bp of concession on each tranche, says rival banker ◆ May push European banks to pay more to get deals done

Revival in overseas demand for French SSA paper