Europe
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Investors are becoming more price sensitive, said one banker -
◆ Soft open gives way to stronger afternoon ◆ 'Will price in range' tag may have reassured investors ◆ Quick money blamed for orderbook attrition
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Defence, utilities and real estate all likely to need more loans
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◆ Demand weighted to either end of curve ◆ TotalEnergies tightens eight year tranche more ◆ Business as usual after German election
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Slow week expected as market digests results of the parliamentary elections
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◆ 10 year note raises €750m alongside €500m five year ◆ Longer note lands double digits through govvies ◆ Slim to no premiums paid for both bonds
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◆ Drinks maker looks to pay single digit concession over its curve ◆ Peak demand drops by €950m at final books ◆ Borrower cuts growth forecast
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German electricity company ends corporate drought as Thermo Fisher announces roadshow
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Security expenditure targets must be met with debt brake reform, analysts say
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Duration returns to euro covered bonds but supply wave looks unlikely with relative value a sticking point
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The loan will have KPIs including the percentage of the company's capex aligned with the EU taxonomy
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◆ Issuer prints €2.25bn across two tranches ◆ 10 year tranche solidifies returning long end demand ◆ Slim premium needed on both tranches
