Sterling
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Elia, EDP and Traton ease through a market desperate to invest -
◆ Second French bank deal in sterling in less than a week ◆ Issuer attracts £1bn-plus book due to lack of FIG supply in the currency ◆ OSB prepares senior return after September debut
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Issuers take in small concessions and big books, as bankers ask after long maturity trades
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More issuers have priced sterling bonds against swaps than Gilts so far this year
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Issuer lands $11bn demand for first dollar outing and sells biggest sterling SSA for two years
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Demand outlook 'optimistic' as supra brings fifth sterling benchmark for the market this week
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Issuer has already funded about 12% of its annual target in just three days
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Issuer garners big demand in first deal since MSCI upgraded its ESG credentials
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◆ BPCE brings first senior sterling FIG deal of 2024 ◆ UK investors lap up relative value versus euros ◆ Debate over premium paid and whether market is ripe for more issuance
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Volatile market proves little obstacle for long maturity funding
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The two deals are priced off different benchmarks
