Finland
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Part of a 'wave' of large ESG deals, according to a lead banker -
◆ Minimal impact from escalating Middle East conflict ◆ Investors eager to buy long end BPCE ◆ Danske lands flat to Pfandbrief
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◆ Finnvera joins dollar party in primary ◆ Attractive levels and lack of supply boost demand ◆ Another German issuer brings 10 year euro paper
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Three year maturity fills important funding gap for highly rated names, say lenders
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Company calls on its relationship banks to bump up the size of its RCF
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The company has refinanced and increased its loan by another €100m
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◆ Textbook tightening ◆ Stable conditions open up market ◆ 60% of funding expected to come by June
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Spreads over Treasuries are tight but hope is that ‘others will follow’
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◆ Finnish deal delivers size ◆ Trade already spotted tighter in secondary ◆ Finnish supply lagging 2024 year to date
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◆ A3 rated name opens wider than BBB euro debutant Galderma ◆ Rewarded with big, sticky book ◆ Attrition still clear in other trades
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◆ Three IG corporate issuers snag more than €12bn of demand ◆ Whipsawing rates do little to dent appetite ◆ Yield hogs: Harley-Davidson tightens spread by 45bp
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'One can definitely see the attraction to investors,' says issuer
