BayernLB

◆ The 'powerful technicals' driving success in unsecured issuance ◆ Nykredit takes advantage with 'solid' deal ◆ German issuer the only other benchmark deal being marketed

Stadtsparkasse München to test demand for five year Pfandbrief

◆ Deteriorating market conditions made worse by investors demanding higher premium ◆ 'Wise' decision to print after two days of calls ◆ Shawbrook sells private placement-like tier two in sterling

◆ Pent-up demand supports issuer set to regain IG ◆ Concession was 0bp-10bp, below what eurozone periphery smaller issuers have paid ◆ BayernLB chooses extra day of marketing for tier two

◆ Both deals are expected to price as early as Tuesday ◆ Unlikely to compete for demand due to differing ratings and buyer bases ◆ NBG will print the first Greek bond after Moody’s rating upgrades

◆ Strong final outcome gives hope to others ◆ Core issuers aim for investors' 'sweet spot'◆ Bookbuilding shows buyers having the 'upper hand'

◆ Investors attracted to higher spread sales ◆ Pair need 15bp concession to cross the line

Two from last deal not working on new issue

The €300m deal was doubled from €150m target

Sixt and Encavis increase deals after high orders

Bank of England wins big book for its annual dollar bond

Investors prove consistently happy to pay more for green labelled debt