Weekly Covers
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Ferrero International markets €300m deal
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◆ Austrian bank paid 5bp new issue concession ◆ Order size consistent with previous Erste covereds ◆ New issue premiums have increased in recent weeks
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◆ Dutch bank's order book three times oversubscribed ◆ 3bp NIP offered ◆ Issuer placed a green senior bail-in last October
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Markets have behaved in an 'orderly fashion', says global fixed income head in EMEA
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BNG deal 'most exciting' while Eurofima will test long-dated demand
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◆ Defensive structure for nervous market ◆ Largest book on a busy day for FIG issuance ◆ ABN keeps position of leading bank EuGB issuer
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Redemptions and coupons usually turn technical balance favourable in the second quarter
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First trade from a LatAm corporate since the outbreak of war in the Middle East
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The company's curve has massively outperformed the South African sovereign this month
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Capital increase follows deal to buy HSBC Malta stake
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High market and geopolitical volatility prompt issuers to slow primary issuance plans
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Issuers tread carefully as the shortened week begins, with execution still possible at a price