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Supras and agencies

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◆ New sterling line, not headlines ◆ When the numbers finally work ◆ Three pillars hold the book
◆ More wiggle room than supras ◆ A book that kept building ◆ Why the issuer held back
◆ Issuer builds curve out to 2033s in euros ◆ Seven year 'ticked a lot of boxes' ◆ Recent NIB deal good reference for pricing
◆ Solid book even though size not comparable to January ◆ Investor demand remains 'pretty robust' as June starts ◆ Maximum of 1bp premium paid
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