Europe

UK warehouse Reit increases deal to raise growth capital after ‘anchor size’ orders

◆ Senior arrives a week after €5bn book for covered deal ◆ Latest orders land at €1.4bn ◆ Rival bankers say smaller book down to smart execution, not saturation

Two syndications have landed the sovereign €16bn with just one more trade left to do

Deal pile up means days of 40bp tightening during bookbuilding could be over for now

◆ Deal execution is ‘exemplary of the current market’ ◆ Demand drops by around €2.4bn from peak to landing, yet clears 10bp inside fair value ◆ Issuer reduces cost with bullet and counts SP bonds towards MREL

Debut €500m five year deal spotted up to 7bp through reoffer in the grey market

Sharp spread tightening still possible despite slew of trades lining up

Swiss bank expected to offer a pick-up over other non-eurozone names

The German state needs to raise 20% more than initially planned

Average premium paid has steadily fallen since the start of the year

Ellevio, Moller-Maersk and Metro latest to court fixed income investors

Lossmaking Swiss solar cell manufacturer is scaling back production in Europe, opening in US