Belgium
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◆ 'Investors seem to be buying' in euros ◆ Institutional community's tap tightened 4bp ◆ Deal’s coverage ratio was issuer's highest this year
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◆ Appetite for credit attracts trio to senior market despite weaker backdrop ◆ But face-to-face execution between two similar deals underlines limits for non-major global bank issuers◆ UniCredit diversifies funding with rare floater
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◆ Opportunistic move pays off ◆ More balance brought into euro curve this year ◆ ‘Incentive and motivation’ to improve spreads
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◆ Final terms fixed from the get-go ◆ Second opportunistic dollar trade from the sovereign ◆ Home euro market having ‘terrible day’
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◆ ‘Blow-out book’ for regional issuer ◆ Attractive spreads versus swaps, OATs ◆ Minimal new issue premium paid
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UK bank recruits dealmaker from Groupe Bruxelles Lambert
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Clamour for 20 year deals still loud, despite uncertainty about speed of rate cuts
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Trades line up as IG corporate market finishes week strongly
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Issuer avoided picking a window to print a deal in May
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‘The market is all fired up’ ahead of possible rate cuts from the European Central Bank
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Rates backdrop causing greater order book attrition in dollars as spreads grind tighter in euros
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One banker judged the sovereign to have landed 5bp-10bp through its euro curve