Euro

◆ Malakoff Humanis looking at benchmark sized tier two bullet ◆ Deal to fund its business growth aside from refi ◆ Gothaer to print new 20NC10 tier two ahead of call

◆ Issuer raises €1.5bn supported by nearly €10bn of orders ◆ Though some see higher NIP than usual paid for that tenor ◆ Deka leaves slim premium as other, less frequent borrowers prepare senior opco deals

The ECB's hawkish rhetoric shouldn't dissuade investors from expecting further curve steepening

◆ Hesse prints largest European regional green bond ◆ ESM builds 'massive' book ◆ CDP tightens pricing by 6bp

◆ Scotia and Bank of Queensland tap the short end ◆ Single digit premium for Scotia ◆ BoQ offers spread to Aussie major peers

◆ More IG corporates bring EuGBs ◆ Norsk Hydro looks to print inside fair value ◆ Covivio lands flat

◆ French issuer closes in on 2025 funding target ◆ Single digit pick-up offered over tight core European names ◆ Little to no premium needed for a sizeable trade

Lending activity picks up in four central European countries

◆ US insurance funding agreement-backed notes are set to grow in euros ◆ New names are taking longer to meet investors ◆ New pair to follow euro duo from last week

◆ Greek bank’s unique approach benefits both legs ◆ Follows overhaul of assets and NPLs ◆ Capital and credit specialists among buyers

French covered bonds, southern European senior and tier two paper among the deals expected

ESM and Hessen ready deals as single currency gets a ‘refresh’