LBBW

◆ Deal to be the first euro Pfandbrief since October ◆ Five year a popular tenor with all except insurers ◆ Fair value considerations revealed

◆ New issue concession debated ◆ Rival bankers highlight premium to private placement ◆ Tuesday expected to be 'super busy'

◆ LBBW to price senior FRN soon ◆ A Friday euro FIG deal ‘cannot be ruled out’ ◆ Crédit Agricole makes ‘smart move’ to tap US dollars

◆ Deal confirms 'fair price for Bundesländer' ◆ 6bp pick up over KfW ◆ Things are looking up for January

◆ Two day execution ensures T+0 settlement ◆ Goldman Sachs acts as platform provider ◆ Second recent exloratory project

◆ Fair value uncovered after SSA repricing ◆ Printing €1bn 'looks like a stretch' ◆ Higher than average coverage ratio

Wallonia and Hamburg tap bonds as bloc mandates tenth syndication

◆ ‘Pragmatic’ issuer prices at new found level ◆ KfW bonds used as building block for pricing ◆ Deal should give ‘encouragement’ to others

Streak of high-yielding FIG credit attracting ample demand has been broken

◆ Deal meets investor resistance despite higher yield ◆ Offers 'attractive yield' but book drops to just above €750m issue size ◆ German bank to refi early only Landesbank AT1 via tender

◆ Three banks show keen desire to close strategic capital deals before November ◆ 'Outsized bid for high beta' continues to drive buyers to tightly priced capital ◆ Belfius prices in euros and SEB goes for dollars

Abnormal trend expected to continue posing question for FIG treasury officials