Natixis
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French bank retains overall top spot in euro market, Crédit Agricole leads in senior and JP Morgan in third-party capital sales -
Market participants argue that market uncertainty makes shorter tenors more palatable for investors
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◆ NAB executed at 30bp over mid-swaps threshold ◆ Banker said deal was 'in line with what was expected' ◆ Leads chose three Canadian covereds as comps
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◆ Macquarie tightened by 6bp to 27bp over ◆ Banker said this represented ‘small new issue premium’◆ Bankers said investor demand for covereds is cooling
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◆ Sub-benchmark note tightened by 10bp ◆ 15bp reoffer came 2bp inside fair value, says lead ◆ Another lead 'very surprised' by market's response
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◆ French issuers weighing deals for next week ◆ 'Smaller projects' may come this week ◆ Blackouts blamed for Wednesday's drop in issuance
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◆ Aussie bank tightened 9bp through execution ◆ Deal more than six times oversubscribed ◆ Bank's last euro covered was in September 2023
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◆ Australian bank planning €500m covered ◆ Issuer's first euro deal since September 2023 ◆ Barclays, Natixis and UBS are lead managers
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◆ Issuer tightens by 7bp during execution ◆ Covered was first from issuer since September ◆ Aareal had market to itself on Friday
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◆ Canadian bank lands tightest euro covered this year ◆ Further Canadian issuance on the day ◆ Banker on the deal said tranches were priced just inside fair value
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Sustainable finance chief leaves Nomura for opportunity in fast-growing region enthusiastic to cut emissions
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◆ Orders pour in, crushing new issue premium ◆ Pricing well through French sovereign ◆ Market warming to longer-dated paper
