Weekly Covers
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◆Both opt for senior non-preferred ◆ Some premium ◆ Big books despite competition from other large names -
‘All done’ for 2025 as UK Budget and Thanksgiving approach but 'very crowded' January ahead
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◆ Second EuGB bond for EDP this year ◆ Issuer 'left a few basis points to get the trade done' ◆ EDP to invest €12bn in renewable energy
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Company has offered the highest yields on Saudi Arabian new issues in the last few years
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Investors welcome country's efforts to reduce bulging debt burden, but there is nagging worry
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Bankers say Budget may determine if FIG issuers print in sterling through December or hold off until January
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Issuance was front-loaded into the first three days of the week in the FIG dollar market as issuers got ahead of Thursdays US non-farm payrolls report
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Strong inflows help corporate issuers shrug off wider volatility
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Rise of central bank and official institution demand bolstering 'super hot' SSA market
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Order attrition has been high, and two less well-known names have paused plans to issue
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◆ Book peaks at almost four times covered ◆ No worries over repeat visits ◆ Chorus offers rare Kiwi corporate paper
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◆ New issue premium estimated ◆ Partial pre-funding ◆ Baden-Wuerttemberg 'through fair value'
