France

◆ Supra taps euro market after raising dollars last week ◆ New European Green Bond from familiar name ◆ French agency more active in EuGB than others

◆ Groupe Bruxelles Lambert and Klépierre launch €500m deals ◆ GBL attracts larger book ◆ Both issuers pay small concessions

◆ 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

◆ First post-summer French deal came earlier than usual ◆ Issuer weighs up options before taking Friday window ◆ New spread record set, near-record demand received

Covered market provides 'the deepest pocket of demand' among FIG asset classes

◆ Second longer dated French deal in a row ◆ Issuer parks at a double digit spread inside the government's curve ◆ Concession paid

◆ French defence company returns after three years ◆ Combined books peak near €4bn ◆ Higher order book attrition on longer leg

◆ Higher spread, higher book than tighter priced SP deals ◆ Large French supply expected in the second half of year ◆ Small premium paid

The issuance calendar between now and spring promises rain. Negative carry is the price of staying dry.

French bank opts for AT1 while Lloyds progresses senior funding plan

Uncertainty looms large as presidential race far from clear and budget negotiations potentially ‘highly challenging’

Top 20 accounts take 85% of deal