Euro

Downgrade of bank’s unsecured ratings is unlikely to lead to further repricing of other German issuers’ covered bonds

◆ Market ‘risk-on’ after Fed meeting and surprise SNB rate cut ◆ Op Corporate Bank FRN fives times subscribed ◆ Senior sentiment unharmed by RBI’s pulled AT1

European bond spreads have come in from highs, but effects of Hindenburg report remain

Bank must accept a perfect deal may not be possible while it has Russia exposure

The bank was boosted by a benign Fed meeting and a successful deal from Poland this week

◆ Magic number of 105bp hit again ◆ ‘Good outcome’ after senior market flooded on Monday ◆ Signs of consolidation but RBI ‘has not rattled market’

Central bank meetings suppress weekly covered bond volumes to their second lowest levels this year

◆ Deal lands with negative new issue premium ◆ Appetite for insurer RT1 stays strong ◆ Tier two bank market could be facing some ‘fatigue’

Equinix furore contained as others print without hassle

◆ Rival bankers said it was ‘bad luck’ and did not reflect broader market sentiment ◆ News that US authorities opposed RBI purchase in Austrian construction company Strabag emerged during pricing

Deal was oversubscribed with €110m of lead manager orders

US data centre had set size on €500m bond when Hindenburg Research report forced cancellation