Germany
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◆ Final books not disclosed ◆ Small premium paid for tight trade ◆ Some investors face line limits -
◆ BNP Paribas readies first covered of 2024 ◆ French firm appoints 12 bookrunners ◆ MunHyp to benefit from reshaped yield curve
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Company has not drawn back up line once in almost two decades
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Triple oversubscription drives price 15bp inside initial guidance
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◆ Deal sees $4.25bn in demand ◆ Good value versus tier one SSAs ◆ Short-end dollar attracts interest
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◆ Issuer eyes further outings ◆ Book closes in excess of €820m ◆ Multi-day marketing period supported demand
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The path to a capital markets union will inevitably pass through a pan-European banking union
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Four UK entrepreneurs back Applied Nutrition IPO with cornerstone commitments
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Supplementary budget might see Länder use late November window
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◆ Deal is DZ's first public sector trade of the year ◆ Domestic demand to support deal ◆ Tenor matches cover pool funding need
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◆ ESG accounts provide early orders ◆ Granular treasury accounts fill up book ◆ Deal comes close to fair value
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High grade names face a tougher market, but opportunities are still on offer
