Issues

◆ Austrian bank succeeds in fast return to AT1 market ◆ Raises more than it needs to refi June call ◆ Deal lands close to fair value thanks to boosted demand for higher yielding assets

◆ Bank placed bond at 68bp over mid-swaps after large tightening◆ Banker said bond priced inside Israeli sovereign ◆ Issue offered ‘savings versus seniors’

◆ Canadian bank lands €1bn after 'satisfactory' spread tightening ◆ Busy day for covered market ◆ €1bn priced but could have been bigger

◆ Austrian bank's first covered in nearly two years ◆ Both tranches offered 5bp of NIP says banker ◆ Modest 3bp tightening reflects 'normalisation' of covered market

◆ German bank secured spread tightening across tranches◆ Banker said first tranche offered small NIP but second had nothing ◆ Tuesday’s deals failed to deliver the spectacular order books of last week

◆ Both size and tranching in line with expectations ◆ Almost €100bn of orders for 30 year tap a 'good test for duration' ◆ Latest proof of abundant demand

Hire comes from law firm, Mayer Brown, where he was also a partner

First sukuk from the region for 12 years

A Swiss borrower has already closed books and Austria's Egger will soon

◆ German utility brings two tranches including green ◆ Orders prove more resilient in green tranche ◆ Both legs priced near fair value

Banks accept some deals will bypass them — others they can intermediate

◆ Strong 10 year demand proven again ◆ Nearly 40% of €18.5bn annual funding already done ◆ EU waiting in the wings, 'first proper test' for duration