Europe
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◆ Debut deal spotted tighter in secondary ◆ Some investors keen to get lines in place for future issues ◆ Buyers fine with unusual structure -
Borrowers’ focus on how far a deal moves during bookbuilding leaves many baffled
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Borrowers fill screens on Thursday after poor market open a day earlier kept issuers away
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◆ Issuer meets target with debut deal ◆ Deal comes 2bp back of recent Italian supply ◆ Trade follows two day marketing period
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◆ Record size, record book and record investor offers ◆ UK financial year syndication target 80% complete ◆ Demand diversity ‘very notable’
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Borrower explains August's bond for loan swap
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The spread CEE banks are offering versus the eurozone periphery issuers is attracting investors
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Borrower looks to have paid modest concessions after credit markets opened wider on Wednesday
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◆ No book size revealed ◆ Issuer braves volatile market ◆ Short end of curve tricky to navigate
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◆ UK lender takes £500m ◆ Deal land single digits back of recent supply ◆ No-grow size supported demand
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Public markets have proven to be often just as illiquid, leading to a convergence in approach
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◆ DMO completes hefty chunk of syndication target ◆ Record size, record book ◆ Demand for 15 year 'encompasses a broad range of investors'
