Weekly Covers

Big hitters may have come to market but volumes are down

◆ First euro green bond for the issuer ◆ Spread to peers 'quite an achievement' ◆ Solid order book throughout

◆ Swiss bank issuance is novel for the euro FIG market ◆ Mixes elements of senior and covered FIG debt, and SSA bonds ◆ State-backed deal performs well

Strong performance of recent Gulf capital deals bodes well for the upcoming sale

◆ Mercedes-Benz continues corporate sterling run ◆ Small orderbook after lead interest discounted ◆ 2030 bond lands inside the company's 2028 notes

◆ Positive market backdrop for larger and smaller issuers ◆ Canadian bank taps favourable euro funding at similar level to the US market ◆ Smaller Italian lender Sella crunches spread from a year ago

◆ €250m deal went better than expected ◆ Spread to KfW key to pricing ◆ Land NRW sustainability next

◆ Bromford Flagship gets big response ◆ Gilts market goes haywire as bookbuilding ends ◆ Borrower walks away with four times oversubscription

◆ 'Really good' spread to KfW ◆ More German issuance to come ◆ Two-step tightening but no attrition

◆ French company out for four and 20 year bonds ◆ High demand split evenly between them ◆ Both tranches tighten by 42bp during bookbuilding

◆ New chapter in Greek banks' rehabilitation story ◆ Issuer 'reprices' Greek banks' short end curve due to huge demand from buyers of established FIG debt ◆ Deal reconfirms appetite for higher spread products

Risk of complacency flagged as issuers continue to fund into summer