Location

UK warehouse Reit increases deal to raise growth capital after ‘anchor size’ orders

◆ Senior arrives a week after €5bn book for covered deal ◆ Latest orders land at €1.4bn ◆ Rival bankers say smaller book down to smart execution, not saturation

Demand topped $4bn by midday UK time on Wednesday

The IPO will be priced at Sr48 a share, the top of the initial range

Two syndications have landed the sovereign €16bn with just one more trade left to do

Deal pile up means days of 40bp tightening during bookbuilding could be over for now

◆ Deal execution is ‘exemplary of the current market’ ◆ Demand drops by around €2.4bn from peak to landing, yet clears 10bp inside fair value ◆ Issuer reduces cost with bullet and counts SP bonds towards MREL

The sovereign wealth fund has already raised $5bn via conventional bonds this year

More real estate debt on offer despite waning demand

Listing of Dubai’s car park business to be the Emirate’s latest privatisation

The emirate may have to offer a bigger concession than some recent sovereign issuers

Debut €500m five year deal spotted up to 7bp through reoffer in the grey market