Issues

CEE issuers are having to offer more due to lower liquidity than developed market peers

A longer break before the January rush kicks in may be what the SSA market needs

Funding was cheaper than euros, if smaller

UK exchange prints €1.4bn in largest corporate deal of the day

◆ Pent-up demand supports issuer set to regain IG ◆ Concession was 0bp-10bp, below what eurozone periphery smaller issuers have paid ◆ BayernLB chooses extra day of marketing for tier two

Second busy day hints at strong end to September corporate issuance

KfW finds investors reluctant to pay a greenium

Smaller issuers are struggling to attract investors' attention

Bank of America won trade to sell £33m of stock for employee trust

Concessions have risen slightly but it is not stopping CEE issuers from printing

◆ ING raises €1.75bn from first opco issue for four years ◆ Rare deals meet good investor response ◆ Bid is much stronger for shorter tenors

KfW's long seven year in SSA market could indicate whether covered deals too could extend beyond five years