Weekly Covers

◆ Brewery group brings unusual 1,000 year maturity ◆ Yield pick-up draws bumper books across both tranches ◆ Tender offers also announced

Huge geographical range of credits now on offer

Dollar sukuk prices tight to secondaries, but the issuer's spreads are much elevated since its last print

◆ Booking raises €1.9bn across three legs ◆ Amphenol prints €1.1bn dual trancher ◆ Both deals land near fair value

Former BNPP banker returns to market

Changes span global markets and risk management

Reframing inflation might produce a more palatable number but is not always a great idea

◆ British issuer tightens both tranches 6bp ◆ Spreads in line with comparables ◆ Lloyd’s first covered since its sterling deal in March

◆ UK bank uses the first issuance window after earnings, central bank meetings and holidays ◆ Deal coincides with busy euro credit market ◆ Barclays attracts attention with relevant new issue concession

◆ French issuer tightens spread by impressive 8bp ◆ CFF's fourth covered bond in past two months ◆ Spread of 51bp was flat to fair value, says banker

◆ Pricing was tricky after Hamburg’s recent five year ◆ Is 7bp the new magic number for Länder? ◆ Five year demand lacking, Thuringia to test 10 year

◆ Issuer punches through 200bp ◆ Some concession still needed ◆ First domestic sterling deal in almost two weeks