Issues

CriteriaCaixa, DSM-Firmenich fund through fair value, J&J and Carlsberg prep jumbos

Company is evaluating equity bids

Irish agricultural supplier has tied loan to sustainability targets

◆ Cost saving to euros and dollars continues to lure non-UK borrowers ◆ Sterling real money investors show clear affinity for higher spread offerings ◆ Demand slows for tighter Nordea

◆ Strong market for subordinated bank debt in euros and dollars ◆ Investors buy ‘undersupplied’ UniCredit AT1 at multi-year low yield in the asset class ◆ Barclays, SMFG and ENBD target dollar AT1 buyers

◆ Macquarie five year follows in CBA's tailwind ◆ Pair pay minimal premiums ◆ Macquarie's first covered bond since 2022

◆ German Länder used to guide pricing ◆ Book holds firm as deal lands tight ◆ Wave of 15 year supply unlikely, but 10 years a possibility

The bank landed well inside fair value estimates, according to three observers

When you reflect on your banking career — the thousands of pitch books, the countless analyses, iterations, scenarios, recommendations, and timetables — the gnawing question is whether you ever really added any value. Were you a strategic advisor and master tactician or just a Willy Loman with more air miles?

◆ Issuer hits a market embracing every type of FIG deal ◆ Big order attrition but no concession paid ◆ CCF prepares to optimise tier two capital well ahead of call

Deal replaces facility due to mature next year

◆ Deal lands flat to recent Pfandbriefe ◆ No concession needed ◆ Tight domestic spreads drive Nordic investors towards euro prints