Sterling

◆ UK lender chooses home market for first major bank capital deal in sterling or euros in nearly two months ◆ Similar absence of unsecured FIG issuance ◆ Tier two best positioned for sterling restart, says lead

◆ General Mills debuts €1.7bn Reverse Yankee hybrids ◆ Engie raises €2.06bn-equivalent across euros and sterling ◆ Sub/senior spreads stay modest on Engie's euro tranches

Defensive approach on Tuesday amid market uncertainty

Regulators advise that war-driven volatility and opaque private credit exposure pose risks to financial stability

Issuers tread carefully as the shortened week begins, with execution still possible at a price

George Richardson and Randy Ewell on the issuer's first visit to the public benchmark market in 2026

Extra yield pick-up kept the bid firm for both formats in private placements

◆ World Bank's first benchmark public deal this year ◆ Sterling floater 'the right product' for issuer and investors ◆ Other borrowers eye windows in new quarter

Director in the team leaving

◆ French food group raises €1.2bn and £350m in both currencies ◆ Deal follows Huel acquisition ◆ Danfoss returns with €700m deal after three years away

Borrower's sustainability credentials made a green lending a better fit, says ING

Market participants pray for no negative news overnight in hope of ‘pre-Easter wave of issuance’