Danske Bank
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◆ Danish bank prints its first capital deal in a major currency since 2021 ◆ IR 'hard work' pays off following money laundering case ◆ Premium paid for performance -
◆ Higher rates and dollar push-back no hindrance to bank capital deals ◆ ING prints oversubscribed $1.25bn Reg S AT1 ◆ Danske's first tier two since 2021 pricing close to fair value
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Investors pile $6.1bn into rare print
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The sovereign attracted a large book after record-breaking deals from peers
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German issuer raised a whopping €9bn while two other SSAs together grabbed €2.5bn
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Bankers away from deal voiced concerns over level of orders
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The trade is ‘most likely’ the final syndication this year after issuer exceeded the lower end of its targeted funding range
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AfDB and Kommuninvest stay in the three to five year part of the curve
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Next year's target for the Austrian agency will be around €6bn
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Bankers say it is hard to say why demand for the deals was subdued
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Market ‘took positives’ from US data, central bank meeting, and US Treasury volumes last week
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British Columbia, Thuringia and Sagess will also price deals across dollars and euros on Tuesday
