Issues
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Investors show they are still at their desks during the most illiquid weeks of the year -
Agency could issue two to three more bonds, probably spread out over coming months
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◆ Average benchmark tenor up from 2023 ◆ Seven years proves popular ◆ Longer dated deals look unlikely
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Industrial gas maker taps the SSD market for the first time in biggest deal of the year
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Pair of senior BofA bankers join different Apollo entities as CLO business grows
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French energy company reckons deal size will increase during syndication
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◆ Orders balloon during US hours ◆ Bookrunner and rivals differ on fair value ◆ Bank viewed as ‘increasingly friendly’ on AT1s
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◆ Lender raises €1bn of seniors a day after compatriot ◆ Pricing tight but less demand than for first mover ◆ Slim concession, if any
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Deal accompanied by delta placement block trade and high yield issue
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China is a major creditor, but observers hope that may not be as big a problem as elsewhere
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Total for first half is more than all of 2023 inflows
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◆ New issue premiums return to euro covered issuance ◆ Issuers unable to tighten despite wider starting spreads ◆ French covered spreads could tighten
