Europe
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◆ Larger new issue premiums required ◆ 6bp tighter than Bpifrance ◆ Size set at €2bn -
◆ Combined book one of the sovereign’s largest ◆ Swap spread volatility observed overnight ◆ Issuer ‘did well not to stretch’ the pricing
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After soaring this month, May is expected to see new issue premiums return to next to nothing
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M&G's hire comes amid the asset manager's push to expand loan origination capabilities in northern Europe
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Deal will be the first in sterling since early March and suggests senses of stability
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UK's Mark Capital turns to investment management company for funding
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UK government has a £4.9bn higher net financing requirement
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The SLB is CEZ's fourth in the format in three years
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◆ Level set at fair value, price not tightened ◆ French agency follows on in same maturity ◆ Books of under €1bn
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Donald Trump’s assault on the tenets of US financial exceptionalism is a boon to European capital markets
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The new loan comes from the company's established lending group
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◆ Investors claw back some of the power in primary market ◆ Trade lands with high single digit concession ◆ Deal more than three times subscribed despite €1bn falling out of orderbook
