Issues
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◆ Issuer sees sizable orderbook attrition ◆ Trade looks to pay single-digit new issue concessions ◆ Deal flow to dry up from today -
◆ Aussie lender ends more than two year absence ◆ Little or no premium paid ◆ Deal lands close to eurozone paper
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◆ Mining firm's biggest euro deal since 2020 ◆ Premium appears negligible ◆ Other challenging names could follow
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The West Midlands airport is the seventh largest airport in the UK and third busiest hub outside of London
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Strong local bids enable AT1 sukuk issuers to set yields far below where overseas buyers see fair value
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Cash-heavy Islamic buyers allow sukuk issuers to grow 'more and more aggressive', said a banker
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◆ Tier one capital flies in rallying market ◆ High initial new issue premiums draw big orders ◆ Axa adds new tier two, Commerz buys back old AT1
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Investor sensitivity means lower spread moves and smaller book cover levels
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More Reits to come after Dubai Residential won demand from sovereign wealth funds, family offices
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◆ Market roars into life after UK public holiday ◆ Premiums low despite heavy supply this month ◆ Smaller deal sizes prop up demand
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◆ Deal multiple times subscribed ◆ Fair value debated ◆ RCI Banque experiences attrition
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French agency makes three appointments, including that of BNG's CFO
