Europe
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◆ 52bp reoffer equals Nordea’s multi-year record ◆ ‘Insane’ levels show FIG spread compression, rival banker said ◆ Buy-and-hold investors prioritised -
Upper mid-market firms eschew ‘exciting’ stories as cracks emerge in European private credit
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◆ Deal is the tightest ever Greek AT1 ◆ Book peaked more than €5.5bn ◆ Market 'just ridiculous', says lead manager
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◆ Second ever bond for the issuer ◆ Deal marketed to both SSA and credit investors ◆ Offers potential for tightening on the back of southern European convergence trade
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Eight banks provided loan facility to company
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◆ Issuer's first benchmark after after active start of year in PPs ◆ Deal attracts big book despite large tightening ◆ Only KfW priced with lower spread to USTs this year
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◆ Issuer returns after Swiss franc debut on Monday ◆ Spread tightened 40bp–45bp from IPTs ◆ New issue premium debated
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◆ OTP Mortgage Bank order book outstrips previous demand ◆ Tightening in line with recent performance, says banker ◆ OTP becoming 'more established' as covered issuer
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Bankers insist sustainability-linked loans are here to stay
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◆ Sovereign takes plunge into 30 year ◆ Book almost twice that of 2024 deal ◆ Large size, tight NIP, others encouraged
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Demand peaked at six times the deal size, but many orders dropped out
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The Ukrainian company's January deal performed well on secondary
