Weekly Covers
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◆ Insurer sells first RT1 before calling legacy tier one ◆ Priced close to or through fair value ◆ Investors bullish on Italy
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Mid-cap equity-linked issuance to grow
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Sustainability-linked loan bond increased and gets better pricing than normal in kronor
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◆ Dutch bank takes €1.5bn at four years ◆ Little resistance to pricing through 20bp ◆ Sticky book allows for tight final level
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◆ Second SP deal from SEB this year... ◆... becomes longest point on its euro curve ◆ Some concession left as 'the right compromise'
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◆ 'Great result' for Dutch agency ◆ Capped size, social label helpful ◆ CDPQ brought 'very interesting' deal the day before
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◆ Royal Mail owner sells four and seven year notes ◆ Longer leg attracts the bulk of demand ◆ Bureau Veritas cuts spread by 32bp for €700m eight year
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◆ Belgian bank deal attracts biggest book of week so far ◆ Deal bid 2bp tighter, through fair value post-pricing ◆ Treasury accounts drive Wüstenrot bid
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◆ Unsecured sterling supply ranges from highly rated US insurers to debut, unrated capital ◆ Aldermore's inaugural benchmark to be a tier two ◆ MassMutual brings September's third sterling FABN
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◆ German agency left with little to do in Q4 ◆ Huge book, but was it a surprise? ◆ Fair value views varied
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Energy company prints after a Turkish bank sold a tier two with no concession
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◆ Both issuers lift more than they typically issue in senior debt ◆ Larger sizes warrant higher concessions ◆ NordLB adds call, CCDJ extends duration