Europe
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◆ Whopping demand for Danish logistics group ◆ Deal lands comfortably inside fair value ◆ Green label helps execution -
◆ Deal attracts granular book for a Pfandbrief ◆ Premium paid but outcome still 'fair' ◆ Elsewhere, Finnish sub-benchmark deal proves popular
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◆ UK telco 30NC6.6 and 30NC9.6 hybrids ◆ Peak orders more than 6.2 times the total deal size ◆ Spreads tighten 50bp on both legs
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◆ US car maker prints four and seven year euros ◆ Shorter tranche draws keener bid ◆ Euro funding advantage keeps the pipeline building for Reverse Yankees
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◆ Positioning and expectations drive prices ◆ US data expected to drive pricing ◆ IDA and Thuringia announce mandates
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◆ UK lender builds demand across two legs ◆ Equivalence 'noise' no problem ◆ Canadian paper provides the closest, most recent comparables
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◆ German issuer lands €1bn at tightest spread... ◆ ...but still pays a premium ◆ Shorter Pfandbriefe less popular with issuers this year
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Loan market tranquil but outlook is not pretty
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Sovereign may need to issue before long
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◆ French political turmoil? No bother ◆ Another €11bn raised from single exercise ◆ Textbook deal, usual 2bp premium paid
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◆ Abundant demand for UK water credit ◆ Order book about three times deal size
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◆ Finnish nuclear generator joins elite green club ◆ Order book stays strong amid price tightening ◆ Deal priced around fair value
