Japan

◆ Japanese telco brings deal after two day roadshow ◆ Shorter tranche leads demand ◆ Italgas pushes through with €750m six year

Foreign bank issuers secure tight pricings

◆ Second deal after last year's re-entry is bigger ◆ Nomura wants to extend its euro curve after debut TLAC last May ◆ Higher concession seven year tranche lands at same level as last year's fives

◆ Japanese agency had two day execution ◆ Spread not tightened ◆ Final order book falls short

Tranches in dollars and yen attract 12 banks

◆ Japanese insurer had almost no attrition in its senior preferred trade ◆ Some NIP left for investors ◆ Busy week for Japanese issuers in euros

Japanese insurer is set to launch a novel two-part trade

◆ Deal spans euros, sterling and dollars ◆ Wide range of US TMT comps used ◆ Slim premiums needed for euro tranches

◆ Japanese firm guides debut euro deal tight ◆ Endeavour attracts strong demand ◆ Sales follow multi-day marketing exercises

General syndication to be launched soon

◆ Deal unaffected by Japanese macro volatility, lead said ◆ Aggressive pricing led to heavy long-end attrition ◆ Continuing trend of heavy supply for dual tranche holdco senior trades

Bye-bye euro curve steepeners, there's a new consensus trade in town