UK

◆ Demand peaks at 3.3 times the deal size ◆ Spread tightened by 30bp ◆ Final deal size at the upper end of expectations

◆ First deal in sterling since UK budget ◆ Book falls as deal prices tighten ◆ More sterling supply expected before Christmas

◆ UK government guns for growth but did it miss? ◆ French fancy: FIG in favour again ◆ Pandas and Wontons with the AIIB

Company's relationship banks provided the funding

Light opportunistic dusting expected, but prohibitive pricing to put off non-sterling funders

Steeper curves cloud long-dated issuance for next year, with reordering of relative value pecking order to persist

Fund established through a credit secondary sale focuses on senior secured loans for European private equity and corporate-backed businesses

Chancellor’s fiscal headroom surprisingly doubles but backloaded consolidation efforts raise concerns

Green lending ramps up in part due to data centre growth, but volume still much smaller than SLLs

◆Both opt for senior non-preferred ◆ Some premium ◆ Big books despite competition from other large names

Funding follows National Wealth Fund investment

◆ Are investment bank bonuses going up this year, and when does everyone get paid? ◆ How the UK government's 'binary' Budget is affecting bank bond issuers ◆ Legal pressure builds on MDBs to reassess climate impact