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◆ Other options on table but issuer opts for two taps ◆ ‘Huge books’ now a norm for the issuer, clear NIP this time ◆ EU’s curve evolves to resemble that of EGB peers
◆ Tightest level since IFC's three year print ◆ Investors recycle redemptions ◆ Programmatic and pragmatic approach
◆ Choice of tenor similar to equivalent syndication last year ◆ Redemptions to support demand ◆ Bank of England out in dollars
New product 'ticks boxes' including more investor diversification for Paris-based supranational, which also sold its largest Kangaroo
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Issuer sees little negative impact after ending tradition of publishing issuance windows
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Investors will listen to Taxonomy, but not uncritically