Spain
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◆ Rare deal unhindered by softer market open ◆ Single day execution and structure hit 'investor mindset' ◆ Real money buyers support pricing close to fair value -
‘Long overdue’ upgrades not a surprise, but a relief, market participants say
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Second tier issuers already eying September for deals
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One major bank has underwritten three infra deals in the last week
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◆ Last euro non-preferred issued more than two years ago ◆ Debate on premium paid with leads spotting 'at least' a 5bp concession ◆ Final spread still a tight absolute level
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Swiss bank is only the second institution globally to use the instrument
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Neinor Homes' €225m equity issue six times oversubscribed
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◆ 'Impressive' result for Spanish bank ◆ Raiffeisen Hungary shows CEE appetite ◆ Ageas places short-dated sterling senior
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Spanish regional issuer plans to issue a European Green Bond annually
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◆ Deal attracts largest SSA book since Feb ◆ Issuer follows usual pattern ◆ Strong macro, interesting RV
