Euro
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The FIG primary market reopened this week after the conclusion of the French parliamentary election but it has emerged that not every issuer is returning to a rapturous response
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Concerns rise that the barrier to re-entry is too high for other storied issuers
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More deals expected in the coming months as conditions improve
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Only companies with their backs against the wall will accept paying so much more spread than peers with similar ratings
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◆ US insurance company starts marketing at 'sensible' IPT, says one banker off-deal ◆ But others say it was 'aggressive' ◆ They attribute change of sentiment and relative value difference to US dollars for pulling the deal
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German sub-sovereign trio failed to gain traction in a crowded primary market
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◆ Unrated by major agencies but no hindrance to issuance ◆ Demand reflects broader risk appetite ◆ Infrequent issuers access seen as key market test
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Investors say they want to be conservative on maturities as banks line up long dated deals
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Issuer grabbed window following EU syndication
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◆ Bankers unsurprised to see positive reception for French insurers ◆ Fair value debated ◆ Market backdrop played a role
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French biogas production services company aims to boost US expansion
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Book sizes shrink but borrowers still able to eliminate new issue concessions