Weekly Covers
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Head of funding Jochen Schader says strong promotional lending has pushed the 2026 target above €15bn, as the agency caps its dollar programme before the summer -
◆ BBVA opts for green five year bullet ◆ Pays concession for secondary performance ◆ Outperforms SNP supply from last week
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While European companies lock in attractive euro funding through private placements
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The country's curve has rallied since the US and Iran agreed on a peace MoU
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Issuer leaves more NIP than earlier this year, as order sizes shrink after busy May and June
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‘Notably better’ spread cements sovereign’s standing, thanks to triple-A rating and solid fiscal position
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Deal was three times oversubscribed
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◆ Issuer taps euros, sterling and dollars across 13 tranches ◆ Second deal for NTT this year ◆ Premiums needed to sweeten the size
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◆ First fixed rate sterling covered since February ◆ Order book was 1.5 times oversubscribed ◆ Tenor made the deal 'more competitive', says banker
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◆ Too sensitive to push spread ◆ Value against peers estimated ◆ 'Tight, but no surprise'
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Most of the demand came from local investors, as one banker expected
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◆ Bermuda-based insurer ends two year tier two absence ◆ Borrower marketed as 'new credit' after UK M&A deal ◆ Outperforms other FIG deals on Tuesday
