Weekly Covers

Block in Adnoc's maritime logistics arm seven times oversubscribed

Foreign investors show confidence in French assets, including innovative defence financing deal, as political concerns grow

Corporates could trade through OATs as September 8 snap vote nears

First sale by sponsor Abry Partners since 2020 IPO

◆ Deal is first since French PM called confidence vote ◆ Some concession left on top of wider secondary levels ◆ Bankers call French covered paper 'attractive'

◆ French issuers pile into market ◆ Both borrowers push hard on spread ◆ Other French names expected before September 8 government vote

Markus Stix explains the sovereign's approach to recent euro syndication

◆ Four years is the 'sweet spot' ◆ Existing curve ignored during pricing ◆ Slim premium paid over recent deals

A deal from Argentina would be 'the story of the year', but it may not be close

◆ Heightened sensitivity towards second tier issuers drives demand ◆ Jyske tier two and BAWAG senior preferred lose orders due to tighter spreads... ◆ ... but wider spreads on PBB and Arion attract buyers

◆ Issuer ends dollar absence ◆ Market expected euro deal but decision was strategic ◆ Record book reveals 'pent-up demand' in dollars

Issuer blazes through smoking hot market ◆ Deal prices through fair value ◆ Spread to senior curve 20bp inside year's other tight trades