Bank of America

Move follows hiring of John Kolz as co-head of global ECM

◆ Issuer sets level flat to supra peer ◆ No new issue concession ◆ CEB takes €1bn, book easily covers

Upheaval in US-Europe relationship could reshape the M&A landscape

◆ Bankers say deal was postponed ◆ Book covers size four times ◆ 'Safety first' in current environment

◆ Fair value calcs far from straightforward ◆ Largest book for index-linked Gilt offering ◆ Less index-linked issuance in 2025-26?

◆ 'Reasonable interest' in sterling market ◆ Popular tenors accessed ◆ Neither issuer tightens pricing from guidance

◆ Bank of America and National Bank of Canada opt for Monday issuance in shortened week ◆ Somewhat weaker backdrop results in lower price tightening versus recent senior deals ◆ BofA boosts euro funding this year to €6.25bn

◆ Issuer takes home more than the usual $2bn ◆ Single-digit spread to US Treasury at landing ◆ Dollar investors still attracted by spreads to swaps, yields

◆ Issuer initially targeted price over size but achieved both ◆ Makes sterling debuts look easy ◆ Positioning for UK membership?

Swiss bank racks up $22bn order book as investors jump for yield

◆ 'First window' for 10 year dollar supply ◆ Deal over twice covered ◆ Pricing tightens 2bp

◆ Rare euro appearance from Norwegian agency ◆ Deal was 'one of the most successful' ◆ Differential to KfW gets tight