Issues

◆ More upside potential seen in the Virgin Money credit after Nationwide bid ◆ Deal is 10 times covered after already some 70bp tightening and another 50bp during execution ◆ Some estimates put NIP at close to 20bp when many recent deals are coming close to FV

Infrequent issuer's less liquid curve makes judging fair value tricky

Almost €5bn in euros alone on another wild Wednesday

German sub-sovereign again proves that it 'owns the long end' in euros

Bank dipped in league table last year

Europe's biggest IPO of the year so far gains traction with investors

€1bn deal comes very tight to KfW and Germany

Sixth banker leaves DCM team this year

Property management firm gets ‘competitive price’ and two new lenders

Overwhelming demand the sovereign received makes a farce of investors’ ESG claims

Banks sell £308m of stock as Blackstone doubles down on call options strategy to quicken exit

Supra only needs to raise €6bn in 2024 and offered 'a unique buying opportunity' this week