Euro

◆ Inaugural green bond for Belgian real estate ◆ Solid demand at allocation despite orderbook attrition ◆ Low single-digit new issue premium paid

◆ Trade the first since merger in May ◆ New name appeals to sticky investors ◆ No concession needed to secure size

◆ Recent EU syndication provided encouragement ◆ Greenium debated ◆ ESG investors bolster orders

◆ Debut deal follows similar private placement ◆ New deal prices tighter than the PP sold three months earlier ◆ 'Good timing' for debut offerings

◆ Largest CEE deal since 2013 ◆ Issuer ends five year absence with tight print ◆ No concerns over French parent

◆ Smaller Italian bank has limited name recognition beyond home territory ◆ But strong book thanks to positive sentiment towards country ◆ Wide range of southern European banks used as comps

◆ Deal ASTM's first in euros since 2021◆ Strong demand allows for tight pricing ◆ IG corporate volumes healthy despite market noise

Banks still keen to lend in France amid renewed political uncertainty

◆ French woes no trouble for bond behemoth ◆ Another €11bn done, only one syndication left ◆ Fair value remained 'pretty much stable'

◆ French political turmoil 'largely isolated' as Piraeus sets new Greek AT1 records ◆ Euro unsecured market 'strong and resilient' ◆ Orders peak above €3bn but lack splash of recent AT1 books

Deal will be the first since the Sparebanken Vest and Sparebanken Sor merger

Recent Slovakian paper to guide pricing for the upcoming Czech deal