Issues

◆ Popularity allows Deutsche to price at tight valuation ◆ Follows the German bank's $2bn Yankee at the belly of the curve... ◆ ...and comes a day after UBS issued €2bn in mid to long dated maturities

Raise by Sharjah-based bank was oversubscribed

◆ UBS ends 14 month Swiss franc covered absence ◆ Next to no premium paid ◆ Swiss bank has raised AT1, senior unsecured and now covered in the last week

Internationally focussed borrowers could fare better under higher tariff regime

Bank restocks after recent departures

Senior bankers on the move in emerging markets and FIG

String of exits mean reliable source of deal flow is at risk

More shares sold to undisclosed international financial company alongside total return swap

JP Morgan and Dutch pension fund PGGM transacted derivatives margin trade

Most lenders from 2019 SLL returned for this financing

Books bulged in July as investors flocked to the last of the summer deals

◆ Swiss bank quickly follows $2bn AT1 with senior holdco print in euros ◆ Deal's high oversubscription may tempt others to print soon ◆ DNB diversifies funding printing rare euro FRN