Euro
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As Bastille Day — and the start of what is often a lull in capital markets — approaches, the fate of billions of euros of FIG and corporate bonds lies at the whim of UK and France voters -
Market awaits EU’s lead once election volatility subsides
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‘Still some work to be done’ in bond market’s digital transition
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Agency is now 65% funded with another deal planned for a couple of months’ time
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◆ Rapid bookbuild ◆ Investors ‘don’t care’ as issuer pays negligible concession ◆ Tenor maximises Bund spread
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◆ NIP consensus among bankers ◆ BMO finds it 'easier to attract demand' ◆ Favourable ‘timing’ and ‘optics’
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Market expected to shut after Wednesday as UK elections and US holiday loom
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◆ Austrian lender nearly four times covered ◆ Bankers question whether the deal started wide despite double digit tightening
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◆ Rivals say 'low beta' offering should go well ◆ Leads say investor feedback for social format 'encouraging' ◆ Bankers debate fair value
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Investors are cautious but the deal is “a good test" of the current environment
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◆ Rival bankers give mixed assessment ◆ Final order book shrinks ◆ Fair value 'tricky' to assess
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As supply becomes scarcer, it will be easier for companies to sell dirty debt as green
