North America
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◆ Citi set to achieve 'strong outcome' ◆ Pricing flat to fair value ◆ Sentiment 'more positive than in previous days' -
Additional reserves could be freed, enabling banks to scale up lending
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The Canadian borrower recently landed its tightest ever deal in US dollars
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Domestic names bring duration as earnings blackouts loom
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Despite widening of business development companies' spreads, technicals remain favourable for FIG issuance
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◆ Canadian lender sticks to the plan despite rates volatility ◆ Deal lands close to fair value ◆ Tenor chosen to avoid comparison with Aussies
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◆ New investors after European roadshows ◆ Issuer receives 'a lot of attention' from dealers ◆ Achieving liquidity and competitive pricing in swaps important
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FIG issuance comes across the capital structure before US banks' earnings
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◆ Longest euro benchmark from a Canadian province ◆ Investor demand for spread over European SSAs ◆ Building a curve and paying a premium
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CBA and Nationwide senior bonds push monthly FIG tally to just shy of $80bn
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◆ 'Great result' for Dutch agency ◆ Capped size, social label helpful ◆ CDPQ brought 'very interesting' deal the day before
