JP Morgan
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‘The market is all fired up’ ahead of possible rate cuts from the European Central Bank -
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Second largest outing from a single deal for the WB since 2021
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Latest Canadian issuer in euros finds little competition
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Deal was oversubscribed with €110m of lead manager orders
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Block trade of €560m hedges JP Morgan position, cuts Stone Island family’s stake
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The long-end deal is judged to have paid 1bp-3bp new issue premium
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◆ Morgan Stanley and JP Morgan flood market with new senior euro paper ◆ MS goes big across the curve ◆ JPM concentrates on ‘strategic’ long end
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Sovereign envisages further ESG issuance
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US drug maker's stake in Haleon set to fall to 24%
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Issuer last brought a green bond in 2022 but has been active via taps
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Sovereign’s rarity makes finding fair value a challenge
