UK

◆ Heathrow and ADP offer concessions for longer dated trades ◆ Investors 'more selective' and 'want to be compensated' past 7 years, says banker ◆ Avinor's state-owned status helps it land through fair value

◆ Lead points to high-quality book ◆ Subscription ratio slips from prior tap ◆ Maturity had 'pretty clear consensus'

Universal Music, Alstom and Sanctuary Group among those lining up euro and sterling trades

Increased investor interest in utilities hybrids could bring down subordination premium, says SSE treasurer

◆ UK utility prints €1.3bn dual trancher ◆ Issuer skips guidance as it masses orders north of €10bn ◆ Longer call leg draws stronger demand

◆ UK telecom sells eight year bond ◆ Peak demand tops over €3.4bn ◆ More corporate issuers piling up euro deals this week

Investors overlook short-term oil uncertainty in favour of a long-term view on the sector

◆ First FIG sterling deal in a month ◆ 'Staggering' £4.2bn book from global accounts ◆ Door open for future sterling issuance

Rates and credit under pressure as battle to be UK prime minister looks set to heat up

The Gilt market is pricing a Labour leadership contest. The rates volatility market is conspicuously declining to join in

◆ Company's first euro bond since 2020 ◆ Peak books top €8.1bn ◆ Defence business angle pulls in investors

◆ HSBC brings €3.25bn of funding across three tranches ◆ Lloyds opts for €750m single tranche before UK local elections ◆ Heavy euro FIG issuance as possible Iran deal announced