Europe
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Warm reception for French banks in euros and other currencies shows FIG market is in positive health -
Elite group of companies now considered safer than France in the primary market
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Super sterling goes ballistic, pricing is attractive
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Investors on the hunt for spread and yield, as market adjusts to lower interest rates
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Class B creditors' chances of having their rescue plan adopted appear slim as lawyers judge their timing to be too late and highlight unprecedented nature of case
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◆ Issuer matches previous record ◆ Pricing level was 'never a question' ◆ Market shrugs off Gilt selling
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Big books and negative concessions aplenty as pipeline looks thin
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◆ Size was at upper end of recent range ◆ Book was over €30bn at one point ◆ Portuguese bonds still tight versus peers
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Logistics company book more than six times oversubscribed as investors snap up paper
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◆ Deal lands with low single digit premium ◆ Investors propel book to almost €5bn ◆ Trade already tighter in secondary
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◆ Berlin deal “full success” ◆ Länder segment expected to keep busy ◆ Rhineland-Palatinate prints big, retains bonds
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Books reached close to $10bn but lost a few billion after tightening
