Euro
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Uncertainty lifted for now but problems only kicked down the road -
The usual supply slowdown moves fast into sight but issuance windows remain open for next two weeks
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◆ Strong demand for senior bank debt at tight valuations ◆ Arkéa lures insurers seeking higher yielding investments ◆ NBG achieves 'blowout' for 4NC3 funding a tender
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Thirsty investors face up to prospects of primary market drought
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Issuer starts H2 benchmark funding on positive note, will focus on 'finetuning' in coming months
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◆ Premium paid ◆ More market-makers required ◆ Buy-and-hold investors prevent scalability
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PPs and club deals allow for greater execution certainty in a stilled market, say bankers
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◆ NTT kicks off major transatlantic fundraise ◆ Investors pump €24bn into the books ◆ Bevy of banks on mandate enjoy the spoils
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◆ Canadian lender completes biggest euro funding since 2020 ◆ Third deal in Canadian bank series ◆ Euro proves 'attractive' for these issuers
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A strong year so far for the public sector as issuance jumps 11.5% year-on-year while new issue premiums compress
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◆ Last euro non-preferred issued more than two years ago ◆ Debate on premium paid with leads spotting 'at least' a 5bp concession ◆ Final spread still a tight absolute level
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Dutch tech investor nets €750m euro bond ◆ Order book swells to €3.6bn ◆ Spread tightens by 30bp
