Location

◆ Attractive yields allow for tight spreads in sterling ◆ Manchester Airport flies in with £300m long 10 year ◆ Further sterling supply could follow

◆ Busy week for euro capital trades ◆ Fair value disputed ◆ 'Yield buyers' running the market, rival banker says

◆ Largest book of the week for a euro tier two ◆ Priced flat to fair value ◆ 'Sensible' pricing, rival banker says

◆ Second French FIG sterling deal of the week spotted pricing inside euros ◆ Fourth currency of the year for BFCM ◆ Crédit Agricole marketing Samurai after printing in multiple other markets

New issue was premium was minimal, at worst

Very little — if any — premium left for the Public Investment Fund, a major shareholder

The national champion's AT1 has a smaller investment pool than recent Saudi AT1 sukuk

CEO named for new branch, more hires to follow

◆ Autos keep piling into the short end ◆ Issuer skips guidance on huge demand ◆ Deal lands through fair value

◆ €10bn blockbuster launched with €100bn-plus book ◆ ‘Very good start to the year,’ says issuer ◆ Diversification targeted and achieved

◆ Deal smashes through previous record ◆ Longer tenor helps compress the spread ◆ Strong demand buoys hybrid market

◆ UniPol's first issuance since reorganisation in early 2025 ◆ Book grew after spread tightening ◆ Tier one supply will be 'scarce' in 2026, predicts banker