Europe
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Books were more than six times the deal size -
◆ UBS's covered programme now 'well-known' a year after launch ◆ Investors like the chance to pick up triple-A rated Swiss risk in euros ◆ Premium needed for contractual structure
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◆ Tight deal proves popular ◆ Investors eager to buy seven year paper ◆ Achmea's secondary curve points to higher fair value
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◆ Holding company starts around 40bp wide of fair value ◆ Demand pours into the book ◆ Borrower pays single digit new issue concession
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◆ Big books and 0bp to 2bp concession for Orange ◆ US-China trade agreement buoys markets ◆ Premiums tipped to rise
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When Energo-Pro last issued it had to offer a coupon over 10%
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Almost Sfr3bn printed in first week of May as Swiss franc mart shakes off tariff spectre
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Only a trickle of issuers have printed green bonds under the new standards so far
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The financing was completed in part with a private credit lender
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Hungarian bank is set to embark on a non-deal roadshow later this month
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Up to €10bn expected from across the ratings spectrum, but long maturities looking tricky
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◆ €1.7bn deal gets 2025 funding past the line ◆ Seven year print and 18 year social tap ◆ Bankers say market gives 'good results' and more supply inbound
