Euro
-
◆ No competition from similar Contact Energy ◆ Stedin seals larger than average spread move ◆ Investors left book as price ground tighter -
◆ Investors leap at chance to buy rare Kiwi corporate risk ◆ Green bond's price move surpasses expectations ◆ Pricing in euros 'competitive'
-
Further long-dated SSA issuance is expected to be limited given funding requirements
-
◆ Tightest SNP in euros since January 2022 ◆ 38% book attrition ◆ 'I'd rather be holding one of the best banks in the world'
-
◆ Alpha enjoys IG welcome ◆ Order book five times subscribed with a touch of concession ◆ South European banks' 'convergence pattern'
-
With the Fed tipped to ease again, bankers say curves could grind flatter at the front end
-
◆ Peak demand tops €2.4bn ◆ Spread tightened sharply from IPTs ◆ Spread to senior paper higher than recent deals
-
◆ Starting level based on price sensitive investors ◆ Some French accounts less active ◆ Issuer has shorter duration needs than peers
-
Deal expected to be priced after multi-week marketing period
-
SSAs add cross-currency depth in private placements
-
◆ Pricing comes significantly through EU ◆ 'Surprising' French interest in book ◆ Fast money deterred by odd tenor
-
◆ Second 'chunky' US bank euro print in a week ◆ Deal lands close to fair value ◆ But longer, fixed rate tranche raises questions as it is spotted wider in grey market
