Sterling
-
FIG issuers pile into front to mid-end floaters in private placements across currencies -
European banks’ absence from primary market is ‘different this time’
-
Unsecured issuance absence in euros and sterling resembles past market shock closures, but broader markets remains open
-
Jessica Pulay, CEO of the UK Debt Management Office, discusses investor engagement
-
Higher rate expectations have sharply reduced the possibility of bonds being redeemed this year
-
◆ Two tranches in euros and one in sterling ◆ Combined peak books top €19bn ◆ Investors paid up with chunky sub/senior spreads
-
ICBC prints multi-currency 'safe haven' deal, yet limited read-across for European markets
-
Issuers said to be holding back until market steadies
-
Primary issuance conditions were looking great before latest Middle East war brought uncertainty
-
◆ NIB head of funding Jens Hellerup on deal timing ◆ Fair value estimated ◆ Dollar callable demand continues
-
◆ First Reverse Yankee hybrid of 2026 ◆ €7bn peak book for euro tranche ◆ US issuers increase European market presence
-
◆ French bank has had a busy 2026, issuing across currencies and asset classes◆ Cross-currency rates at 'optimal level' for diversification play, lead manager said ◆ Fair value debated
