Euro
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Company drops sustainability-linking from loan -
◆ More esoteric corporates head to euros ◆ London Power Networks makes euro debut ◆ Lagardère garners average demand despite eye-catching spread
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◆ La Banque Postale sells first euro benchmark of 2025 ◆ Mediobanca and DNB return ◆ Market 'to play catch-up' after scant supply in first five months
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◆ Highly regarded issuer prints longest covered bond for three years ◆ Deal is more expensive than SSA debt... ◆... but investors show strong demand at 'fair' price
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◆ IDA fair value more art than science ◆ MuniFin gets over 140 accounts in its book ◆ Madrid makes debut EuGB trade
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◆ Views on NIP vary ◆ Price sensitivity among investors ◆ More senior deals expected
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Financing will be used to build out infrastructure
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◆ Philip Morris flattens short end curve by 7bp ◆ EssilorLuxottica lands with single digit concession ◆ Wesfarmers increases deal size
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Estonian bank is paying no concession, thought one observer
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◆ Unlike Commerzbank, long end book holds together ◆ Premium paid ◆ Scarcity of Japan names in euros
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◆ One tranche experiences more attrition ◆ New issue concession varies on legs ◆ Fast money investors exhibit sensitivity
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◆ Crédit Agricole aims for 5.5 years, SR-Boligkreditt goes for fives ◆ The belly home to the greatest demand ◆ Paid land tight to peers and own curves
