Issues

After a poor start to 2025, a strong second quarter helped lagging covered supply get back on track

◆ Bromford Flagship gets big response ◆ Gilts market goes haywire as bookbuilding ends ◆ Borrower walks away with four times oversubscription

Big moves from guidance, small concessions paid

Internal hire ends seven year stint in covered bond research

Blocks in Mediobanca, InPost and Wise come to market

◆ First deal since Crelan/AXA Bank Belgium merger ◆ No premium paid ◆ Capped size allows for focus on price

◆ Société Générale's insurance arm refis legacy perp ◆ Deal lands flat to fair value ◆ Investor sweet spot

◆ Large demand leads to large print ◆ Early momentum in quality book ◆ 'Everything flying' but spread to swaps also attracts

'Abundant' liquidity to put downward pressure on pricing, say bankers

◆ New chapter in Greek banks' rehabilitation story ◆ Issuer 'reprices' Greek banks' short end curve due to huge demand from buyers of established FIG debt ◆ Deal reconfirms appetite for higher spread products

Books over $1.6bn, but investor questions start point

Romgaz trades flat to Romania's sovereign