Euro

◆ A 'double digit' saving for issuer ◆ Investors 'want defensive, short assets' ◆ More reverse Yankee issuance debated

Sparkasse Dortmund adds 10 year sub-benchmark offering to pipeline

◆ Sandoz garners chunky demand for 10 year trade ◆ Trend continues for issuers to set deal parameters quickly ◆ Single digit new issue concession

◆ NN the first Friday deal in six weeks ◆ Investors hungry for undersupplied Dutch paper ◆ Book grows after spread set

The company's decision to replace its facilities follows an investment grade rating and bond issue

Separate listing planned for September

Pragmatism to the fore for issuers trying to price benchmarks in turbulent markets

Investors are hungry for any paper offering more than 3%

◆ CA experiences big drop in orders ◆ BCP struggled to tighten from IPT ◆ FIG deals struggle even as corps succeed

◆ Difficult FIG execution was less pronounced in the senior market ◆ New type of offerings from BNP Paribas and Islandsbanki receive strongest reception ◆ AIB's mid range holdco lifts lower volume

◆ Nineteen times covered books for €3bn of taps ◆ Shorter, older bonds replaced by long ones ◆ ‘Clever trade’ and ‘very precise pricing’ as a result

◆ Priced off recent peer issue ◆ New levels found after swap spread moves ◆ Deal twice subscribed