Flynn Nicholls

FIG

Unusual currents power super-strong FIG market

Classic January new issue volumes as barely there premiums come into vogue but US banks threaten to crowd out Europeans

Flynn Nicholls, January 16, 2026

Regulatory Capital

Copenhagen, Denmark - July 24, 2022: Modern gray, glass and steel Nykredit bank building at corner of Puggaardsgade and Kalvebod Brygge under blue clo

Nykredit joins capital deals fray with euro market's sixth tier two of the week

◆ Busy week for euro capital trades ◆ Fair value disputed ◆ 'Yield buyers' running the market, rival banker says

Flynn Nicholls, January 15, 2026

Regulatory Capital

NAB, National Australia Bank Building, Bourke Street, Melbourne Docklands City CBD, Victoria, Australia

National Australia Bank returns with rare euro tier two

◆ Largest book of the week for a euro tier two ◆ Priced flat to fair value ◆ 'Sensible' pricing, rival banker says

Atanas Dinov, January 15, 2026

Emerging Markets

National Bank of Greece lays out Saudi DCM aspirations

CEO named for new branch, more hires to follow

Francesca Young, January 15, 2026

Regulatory Capital

Milan, Italy - July 8, 2025: a general view of the new Unipol Tower headquarters. The tower comprises 23 floors above ground and 3 underground floors,

Red hot euro FIG market brings €4.2bn of orders for Unipol RT1

◆ UniPol's first issuance since reorganisation in early 2025 ◆ Book grew after spread tightening ◆ Tier one supply will be 'scarce' in 2026, predicts banker

Flynn Nicholls, January 14, 2026

Senior Debt

Vilnius, Lithuania - May 6, 2017: Office of DNB bank at modern skyscraper in downtown, Vilnius, Lithuania

DNB Bank finds demand for senior note after well-received covered bond

◆ Deal came on busy day with €13bn of volume across secured and unsecured FIG issuance ◆ €2.1bn final book ◆ Flat to fair value or even negative concession

Flynn Nicholls, January 14, 2026