Europe

◆ Late start followed with quick updates ◆ Fair value debated ◆ Greek paper getting 'too tight' for some investors

◆ Irish lender sets size at €1bn ◆ Minimal concession paid ◆ Bank is 'swimming in capital'

◆ Tightest reoffer spread for a four year corporate paper this year ◆ Book peaks at more than three times the deal size ◆ Low single digit premium paid

◆Both opt for senior non-preferred ◆ Some premium ◆ Big books despite competition from other large names

◆ €1bn note eoffered at 38bp over mid-swaps ◆Minimal new issue concession ◆ Senior spreads 'attractive' for issuers compared to covered bonds

◆ Second EuGB bond for EDP this year ◆ Issuer 'left a few basis points to get the trade done' ◆ EDP to invest €12bn in renewable energy

Funding follows National Wealth Fund investment

◆ Are investment bank bonuses going up this year, and when does everyone get paid? ◆ How the UK government's 'binary' Budget is affecting bank bond issuers ◆ Legal pressure builds on MDBs to reassess climate impact

Books were still healthy even after plenty of dropouts

The trade was priced tight and achieved an impressive outcome, thought one observer

Bankers say Budget may determine if FIG issuers print in sterling through December or hold off until January

◆ €500m 6NC5 senior priced at 90bp over mid-swaps ◆ Concession debated ◆ Rounds out a successful year for Greek banks