Spain
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Usual fourth syndication to follow after the summer
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Issuer prices flat to secondary curve as investors chase Spanish agency bonds
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Wide spreads have insulated eurozone periphery borrowers from rates volatility — for now
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Deal turned out larger than some had expected
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◆ 12bp move from IPTs ‘remarkable’ ◆ €1bn print lands flat to inside fair value ◆ Iccrea to follow with 10 year OBG
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Shares trade above issue price on Friday after sale
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Covivio, Timken and Merck & Co keep corporate issuance going
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Sub-sovereign issuers found support in an undersupplied market
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Puig's trading debut on Friday somewhat muted compared to recent IPOs of CVC and Galderma
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The base deal size will be €2.6bn after the IPO was priced at the top of the range
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After CVC's successful IPO last week, Spain's Puig has taken this week's spotlight
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Investors snap up low rated IG companies, but demand double digit concessions