LBBW

◆ Deal works for all as issuer gains better standing with rating agencies ◆ Stream of FRNs helps with fair value assessment ◆ Green element lowers issuer’s borrowing costs

French, German and Canadian issuers printed their first euro bonds of the year

HSBC forecasts diverse offerings and growing demand for SSDs in 2024

LBBW and Commerzbank reserve their slots early for first trading day of 2024 with December mandate announcements

The bank's plan to issue a seven year covered bond sets the stage for likely head to head execution with LBBW

The seven year Pfandbrief will offer the longest covered bond for more than four months

Inverted five and 10 year swap curve means long dated covered bond issuance less attractive than senior format

◆ Spanish bank acts quickly to raise €1bn at slim concession ◆ More long end issuance possible ◆ Three more banks supply further €1.5bn

Issuers 'can't be stingy' in tough conditions as issuer leaves 5bp on the table

◆ Pronounced bid for duration results in largest book for an unsecured euro deal this year ◆ French bank makes most of being 'a unique beast with unique timing' ◆ Italian bank goes even longer in Yankee market

Demand exceeded €110bn when final terms were set for the dual-trancher

Supra to issue five year paper and tap its green February 2048s