Euro

Issuer benefits from no-grow label, double-digit starting spread to US Treasuries, and typical 'responsible' execution approach

◆ French borrower takes €1.15bn across two tranches ◆ Balance struck between size and price to keep investors onside ◆ Small concession offered

◆ French services firm ends six year absence ◆ Deal hits upper end of size target ◆ Little attrition as borrower secures 'fair' price

◆ Euro deal comes swiftly after sterling appearance ◆ Issuer rarity aids both deals' success ◆ Euro leg losses chunk of orders but ends with similar book to earlier European bank deals

◆ Deal printed one day after strong third quarter results ◆ Bond and equity investors seem to show no negative impact from North American tariff war ◆ Issuer focuses on cheaper shorter tranche

◆ Combined books peak at over €6.5bn ◆ Deal comes close to target ◆ Cofiroute offers further tight infra supply

◆ Another French agency wraps up 2026 ◆ Attractive OAT yields support demand ◆ La Caisse shrugs off US-Canada trade woes

◆ First 10 year Länder bond post-summer ◆ Pricing was fair versus KfW ◆ More diversified book than before

Investment company's upcoming mega retail funding and past issuance offers paths for modern hyperscaler financing

◆ Fourth euro tier two offering in a row ◆ Doubts about French FIG demand dispelled ◆ Short non-call period appeals to other financial institutions

◆ German utilities firm debuts hybrid bonds weeks after first senior deal ◆ Books shrink as issuer pushes tight ◆ Trade lands inside peers

◆ Supra taps euro market after raising dollars last week ◆ New European Green Bond from familiar name ◆ French agency more active in EuGB than others