Euro

Each issuer offered much wider spread than core covered bonds and at least 10bp of premium to ensure successful execution

◆ BNP Paribas sells longest senior euro note since July ◆ Slim 2bp-3bp concession needed ◆ Investors hungry for duration with accounts interest out to 30 years

Deal priced in line with IPTs with no book updates

◆ Favourable backdrop entices smaller issuers ◆ Spar Nord Bank seeks euro senior preferred debut ◆ Sondrio and HCOB ready prints of their own

A debut in euros and first time green deal on the way

European agencies to dominate week’s issuance with Fed and Bank of England in focus

◆ How German deal demonstrates improving sentiment ◆ Paper from UK and Italian banks also popular ◆ Issuers urged to print as investors fall into line

Despite frequent issuance, first green bonds from finance arm fly

Tactic of bringing a ‘materially different’ transaction paid off

Former National Express joins stream of new bond issuers

Investors turn up for triple-B rated debt from out of favour sector

◆ Belgian bank completes its largest deal at €600m ◆ Debut green bond attracts ‘classic ESG’ investors ◆ Lower tier bank issuers are starting to face some indigestion in the euro FIG market