Issues
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◆ Popular Adidas more than four times covered at peak ◆ Investors leap at rare deal ◆ Tight top quality credits used for pricing -
◆ Sterling covered bond follows AT1 and senior deals in US dollars ◆ Latest trade is the tightest Sonia covered of 2025 ◆ Comes amid visible recent performance in the asset class
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Sovereign prices flat to euro curve and 'well in line' with peers despite being less frequent in the currency
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Next FOMC meeting now 'more interesting' but front-end govvies trading fair, say market participants
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Demand for the Turkish bank's deal was about three times the issue size
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◆ Spanish firm first to pair novel EuGB label with a hybrid format ◆ Trade lands far through fair value ◆ Joint largest book this year so far in euros
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With issuers in earnings blackouts or nearing the end of their 2025 programmes, issuance slumped in October compared to the September rush
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Proceeds will go towards financing exercise of remaining rights
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Meanwhile UBS prepares to appeal court's decision that writing down Credit Suisse AT1s was unlawful
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◆ Juventus' majority owner attracts €3.25bn peak book ◆ Price discovery needed for rare name ◆ Range of fair values suggested
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It has added three year loans to the autumn round after bringing them back in the spring
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Former KfW funding official to join Canadian bank as it grows euro bond business
