Euro
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Corporates pump out another day of deals to the envy of other markets -
◆ Inaugural bond expected early next week ◆ German deal secured against Dutch mortgages ◆ Deal expected to be popular despite quirks
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No-grow tag added to modest size in latest bond to finance €8bn Vodafone Italia purchase
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Increased deal sizes and long-end interest suggests market still buoyant, say bankers
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◆ Rare deal pairs payouts in the same tenor ◆ €1.5bn also raised in longer tranche ◆ No cannibalisation
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Talks with borrowers suggest more to come and primary market will be ‘busy until October’
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◆ Rare Viennese issuer in second subordinated foray of the year ◆ Has to pay premium for returning so soon ◆ Finnish insurer refis called capital
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◆ Bpifrance prices year's largest benchmark ◆ French agency spread to swaps attractive ◆ AFD found opportunities in dollars
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◆ Slower deal appeals to ‘true covered’ buyers ◆ Slim premium paid over recent deals ◆ Deal is Italian lender’s first of its fiscal year
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◆ Deal follows last week’s $5bn five year ◆ Issuer pays its usual 2bp NIP ◆ Large SSAs race to get funding done
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◆ Deal takes size despite lower line availability ◆ Premium paid over comparable bonds ◆ Benchmark SpaBol’s second deal of 2024
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Diageo, Lufthansa, Repsol and Schneider Electric among issuers raising euro funds
