Europe
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The choice of tenor has proved very popular but demand is likely to prove robust
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The order book was price sensitive, but the subscription ratio was still strong
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A short lived rally in the debt of both sovereigns is over but the wider EM bond market is under less pressure
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Principality achieves more than double demand for five year debt
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ECB rate rise fears later this year means costs have risen for the sovereign’s second 2022 visit
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Shares in the Norwegian oil and gas company were down 3.5% on the first day of trading despite strong demand for the IPO, which led to it being increased
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The cost of funding was in line with what LBBW could have expected in euros
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Borrower commands €37bn of demand as central bank uncertainty and Russia fears recede
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The German automaker is set to price its largest public Panda bond to date
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Cash from allies and a stronger economy mean a far better position than 2014-15
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Exception for SSAs baffles some market participants
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Borrower benefits from Italian green government guarantee scheme introduced in 2020