Euro

‘All stars aligned’ for the sovereign to serve up third deal of 2024

◆ Bookrunners take ‘careful approach’ for Aareal’s inaugural green SNP ◆ Reception for German bank with CRE exposure ‘very good for market’ ◆ Fixed format chosen over FRN due to credit rating

◆ Austrian lender more than fives times subscribed as swathe of deals priced... ◆ ... from tight Nordic names... ◆ ... to Italy’s ‘different animal’

Pandora, Grenke, Hochtief and Philips join the scrum

Air Liquide, Enexis and Mondi slide through busy day with negligible premiums

◆ Books show high demand for major banks' debt capital ◆ DNB saves with annual coupon pricing ◆ Barclays takes out €1.5bn at 5bp-10bp NIP

Finnvera and German SSAs also brought conventional deals

Austria, France and Portugal opt for the same window

◆ Deal makes ‘a great story’ after previous senior offering struggled ◆ Investors are hungry for high beta Southern European bonds ◆ Attractive versus recent Nordea tier two

Pent-up demand propels strong bid for CCDJ’s first euro covered of the year

IG corporates squeeze into the market with US names joining the fray

No premium was needed due to a late influx of strong demand