Issues

Markets will lose their bearings without reliable, independent government data

◆ Austria bank compresses funding cost as investors remain avid buyers of tier two bonds ◆ Product described as 'most attractive' within the FIG capital structure ◆ Deal lands with negligible premium, if any

◆ Water company tests demand in a troubled sector ◆ Deal size increased to £450m ◆ Spread tightened 15bp inside the tight end of initial thoughts

◆ Pricing tighter than some rivals expected ◆ Landing near secondary ◆ Diversified crowd of investors as treasuries grab ASW rolldown

African Development Bank is arranging billions of dollars in financing

Curve underperformed but ‘there is demand at these wider levels’

The bank secured a small funding arbitrage compared to dollars

Large loans expected to help meet sizeable capex needs

Sustainable finance chief among those affected

◆ 'Humongous' compression at the long end attractive ◆ Small premium paid on tighter headline level ◆ Tasty pick up still offered over KfW

◆ Belgium arm takes size with first deal since February 2024 ◆ Slim premium paid ◆ More Benelux supply expected

Principal repayments coming due but Bolivia's foreign exchange coffers are bare