Europe
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◆ Book building slows ◆ Spread tightening lessens ◆ Volume not to blame for lower demand -
Other incoming new issues include a niche social bond in sterling
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Turkish white goods maker increases deal size by 40% during syndication
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Bank bonds from CEE are in high demand
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Hungary has been borrowing in the yen market for 40 years
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◆ Deal takes €250m more than targeted ◆ Slim premium paid for duration ◆ Investors still happy to buy despite longer tenor
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Issuance tipped to top the €15bn-equivalent sold in the last four days
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Borrower finds flexibility and investor diversification at no added cost
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◆ Short dollar deal came with huge savings ◆ A long euro followed ◆ Issuer to look at PPs and taps for arb funding
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NMDC Energy's $877m IPO leads bulging pipeline in Gulf, but Europe stays 'hard to read'
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Investors prefer shorter tranches in about-turn of recent trend
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◆ Big five year book for sovereign ◆ Fourth syndicated transaction "not required" ◆ Pricing didn't work for ultra-long dated tap
