NatWest Markets
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Both issuers needed to settle for static spreads that offered chunky concessions
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Blocks perform well despite low issuance, but discounts could remain wide
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SSA issuers stretch into new currencies in what is expected to be a growing trend
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Supranational drummed up €23bn of demand as Grand Duchy eyes 20 years
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Closely watched long dated tranche strong enough to command €37bn of orders
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Eurofima and FMO lining up deals at same tenor
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Unédic, MuniFin and the State of Lower Saxony see ample support for trades
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Widening asset swap spreads and green rarity drove €34bn of demand into deal
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‘We decided to go for it. Obviously a lot of other people had the same idea’
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Sterling market struggles to find solid footing as BoE hints at Gilt sales