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◆ Japanese issuer returns for third time in euros ◆ Lures investors wanting to diversify with large but uncommon issuers ◆ Higher spreads and IPTs than recent European banks
◆ Deal starts with 'intentionally' lower new issue concession than peers ◆ Slower book building may influence this week's tier two issuance ◆ Pre-funding ahead of French elections results in desired €750m size
Books were €700m for what had been penned as a €750m deal
Data
Covered market provides 'the deepest pocket of demand' among FIG asset classes
Capital deals and a tight Nordic senior print point to what lies ahead for issuers
The single currency stands out as the most attractive funding source while the US dollar market remains open in size
Some evidence of green price advantage in secondary market, but not primary
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French bank raises €1.25bn in subordinated debt ahead of more FIG capital deals in euros -
UK leadership uncertainty fails to deter sterling FIG sales
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The deal size and intermediate maturity should improve execution certainty
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Time needed to market rare and controversial structure to investors
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In this table, GlobalCapital Asia offers a glimpse of the bond deals that are in the works
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