Issues
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◆ Deal swells from initial size ◆ No premium needed to seal larger print -
◆ Danske saves with three year floater ◆ No NIP needed for Danske’s seven year tranche ◆ DNB’s €1bn print only just covered
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Deal turned out larger than some had expected
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Promotions in New York and Frankfurt as head steps down
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International, emerging market, ESG and tech investors show up for deal
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◆ Senior preferred format helps mitigate execution risk ◆ Issuer shifts larger funding into shorter FRN ◆ Rates volatility back on the agenda
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Demand nearly four times the deal size allowed pricing to tighten sharply
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Capital trades are drawing higher demand than senior notes, said one banker
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Bank’s first issue for nearly four years offers 5bp NIP on a $500m note
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Issuer’s previous deal had less credit enhancement and lower ratings
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Medtronic to launch whopper tomorrow including 30 year
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Volumes higher and pricing more aggressive than a year ago
