◆ Investors demand higher concession on new tier twos ◆ de Volksbank issues latest euro deal and pays a premium ◆ Tweaks cost metrics to aim at higher profitability
◆ Triple-B rated PBB print stuck at IPTs... ◆... while double-B rated Monte dei Paschi achieves strong outcome ◆ OP Corporate Bank lands flat to fair value
◆ Italian bank opts to refinance early deal with call due next year ◆ Pays heightened premium but lower spread compared to earlier, shorter tier two ◆ BPM has been acquiring stakes in Italian financial institutions
◆ Landesbank balances size and price aspirations ◆ Rising geopolitical tensions drive up new issue premium ◆ Spread tightened by less than on recent deals to keep investors in the book
◆ Spanish issuer funds with no new issue premium, if not breaching through fair value ◆ Market shows approval of the lone senior FIG print ◆ 'No major impact' spotted from BBVA's takeover expectations
