Weekly Covers
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◆ Crédit Agricole aims for 5.5 years, SR-Boligkreditt goes for fives ◆ The belly home to the greatest demand ◆ Paid land tight to peers and own curves -
◆ Both borrowers comfortably oversubscribed ◆ Deals tightened above the 37bp average ◆ Little fatigue seen after a bumper May
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The bank printed Estonia's first ever international AT1 in February
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US about to pass GENIUS Act as Trump associates promote stablecoin
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June could be very busy as borrowers come early to exploit good conditions
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European banks progress with capital raising as spreads tighten, but investor qualms grow
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Investors nervous about duration and fear steepening, but new opportunities could open up for issuers
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Pricing was tight after sovereign found healthy demand
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◆ Australian lender takes size ◆ Redemption wall could fuel demand ◆ Dollars could offer an alternative to tarnished sterling
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AT1 issuance is expected to slow after recent burst of supply
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Issuer hopes to raise €750m from sustainability bond, likely a 10 year, after summer following this week’s large print
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EM investors may be happy to see some senior supply after glut of tightly priced AT1
