Crédit Agricole

◆ Hamburg prices with 1bp of NIP ◆ Länder orderbooks growing ◆ More deals to follow

◆ CA experiences big drop in orders ◆ BCP struggled to tighten from IPT ◆ FIG deals struggle even as corps succeed

Bankers speculate about likely successor from group’s top echelons

◆ French bank’s insurance arm completes first tier one print less than a month after parent bank’s AT1 ◆ Deal offers heightened premium ◆ Outcome amid volatility deemed ‘pretty decent’ by rival

◆ Deeply subordinated issuance shows resilience ◆ Bank of Ireland completes AT1 funding but tightening brings ◆ Crédit Agricole's insurance arm plans debut RT1

◆ Talk of planned mandate change comes as bank raises €4bn ◆ More defence projects to become eligible for loans ◆ Deal not impacted, green label helped

◆ Sovereign sets new book and size records ◆ Deal a hit despite 'not straightforward' backdrop ◆ 'Different story' while still 'a confidence booster'

◆ Big order drops in response to tight pricing ◆ Hypo Noe pays premium to keep orderbook intact ◆ Arion lures orders with spread

◆ Curve repriced significantly since January ◆ Bond prices tight after spread moves 2bp ◆ Lower Saxony borrows with nine year

◆ Investors rush to buy despite yield compression... ◆ ... as French bank aims for both big size and 10 year non-call ◆ Issuer achieves lowest euro reset spread

◆ French firm sells its first mortgage-backed deal since April 2023 ◆ Negative new issue premium paid ◆ French firms enjoy positive political tailwind

◆ Bond priced flat to fair value ◆ 'Pros and cons' for tightening ◆ No-grow tactic deployed