Europe
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◆ Record book for the German state ◆ Länder-KfW spread now much healthier ◆ Strong bid for German assets at current levels -
◆ High spread attracts credit focussed accounts ◆ Strong demand for covered return ◆ Deal spotted 5bp tighter in secondary
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First outing for Italian company tipped to herald wave of fresh hybrid names
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Tighter spread to Bunds and real money investor interests observed in its new deal
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◆ No pick-up offered to French govvies ◆ Deal lands through fair value ◆ Investors still eager to pick up paper
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Auto and real estate companies attract chunky demand for syndications
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Blowout demand for 20 year sterling tranche suggests investors are not beholden to rate volatility
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◆ LF Bank finds 'some resistance' to spread tightening ◆ Big divergence on FV ◆ Novo Banco spread 'astonishing'
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◆ German states are performing well ◆ Placing fair value for the Länder segment is hard ◆ 15-year deal tightened 3bp
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A straight dollar bond is the most likely format, but it has discussed other options
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Vacancy filled following Jessica Pulay's promotion to be chief last year
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Sustainability-linked revolver refinanced two years early
