Europe
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Werfen and Northern Gas seal amply subscribed trades
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Pricing arbitrage for the issuer strengthens case for more foreign corporate issuance
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First 20 year corporate deal since February gets enthusiastic investor response
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Deal was four times oversubscribed and reduced HICL's borrowing cost
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There will be more CEE issuance in June, including from an SSA issuer and corporates
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Rocky market no obstacle for issuers even at lowest rung of investment-grade
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Investors drawn to recovery story as bank raises capital at under 10%
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Access to longer funding may soon spread to new countries
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Banks received reverse interest for illiquid stock
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Euro market cannot compete with the pricing and size the dollar market currently offers
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Sovereigns should take advantage of positive spreads and rating moves to get funding
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Bayer and TVO bring conventional trades as investors lock in higher yields