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Sovereign pays at least 25bp of concession but points to healthy demand after broader spread widening -
Duration on the cards for senior funders, with covered bonds set to skew short
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The dollar market is going to be an unreliable friend for some time
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Syndicators do not expect an easy ride but are hopeful inflows remain supportive
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Flash signs that financial markets were heading for a funding crisis are what spooked traders
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DocMorris announces Sfr200m rights issue expected in May
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US stocks have been the big loser, while European banks could reap profits
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◆ Shorter tranche favoured but both tighten by large amounts ◆ Market seems ripe for other issuers ◆ Eyes now turned to US tariffs announcement
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◆ Alternative asset manager attracts its largest book since at least 2020 ◆ Part of this demand stems from higher spread to peers ◆ This was the result of IR work, says lead manager
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There was no new issue premium when the $1.75bn dollar bond priced on Tuesday
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◆ New euro deal more than 6.5 times subscribed ◆ Comes one trading day after a call and non-call decision on two dollar AT1s ◆ Visible new issue premium helps attract orders
