Issues

◆ Spanish bank parent takes out £600m at seven year maturity ◆ Deal comes at a premium to euros but broadens its diversification drive across markets, issuing entities ◆ UK lender OSB Group improves on senior debut

Société Générale becomes fourth issuer to launch senior FRN in euros this year

Debut in sterling wins whopping £3.25bn final book

The sovereign attracted a large book after record-breaking deals from peers

Senior unsecured and SSA buyers spot arb chance

After a slump over the last two years, the market is expected to recover in 2024

State oil firm raises $800m for buy-back after government proposes ambitious economic overhaul

Bank’s first senior print draws book of $3.45bn

QE era swap valuations driving bank treasuries into bonds

Investors are unlikely to punish issuers who did not call tier two bonds in the last two years

Veteran leaves the Swiss bank where he headed syndication and sustainable banking in Europe

Deal was largest sterling covered bond from a non-UK bank since May