Euro

Arranging a cheap loan in return for lucrative ancillary business is a tougher sell

◆ First tier two in euros after Aussie AT1 phaseout confirmation ◆ European investors like what they see, even at tight valuation ◆ Some disparity between primary and secondary markets

Italian renewables company receives roaring demand during a tough week for the green agenda

◆ Hamburg Commercial Bank opts for price over size and prints tight ◆ Crédito Agrícola shakes off past struggles ◆ Italian specialised government agency drastically lowers funding cost

◆ Gigantic book for Spain ◆ Finland also soared on demand ◆ Austria or Germany next?

◆ Book falls €1.5bn from its peak ◆ Offers small pickup to SSAs ◆ Trade lands flat to fair value

Wide range of pricing references considered

Newly rated supermarket group receives €3bn orders for €500m deal

Book for its newest deal was second in size only to a QE-era transaction

The facility's ESG features will be finalised before the end of the year

◆ Sovereign sells €10bn bond into record demand ◆ First syndication since last year’s political woes ◆ 'Strong demand for French bonds and trust from investors,' says issuer

◆ Eurobank raises €400m to buy back €200m of acquired Hellenic Bank's tier two ◆ OP Corporate Bank makes first appearance in subordinated euro market since 2020 ◆ Clear preference for yield prevails