Lloyds Bank

◆ Lloyds draws peak book of €5.1bn ◆ BayernLB launches green deal and pays 5-10bp premium ◆ SR-Bank senior preferred

Flurry of issuance satisfies parched investors and raises hopes for more across the capital structure

◆ Improved dynamics in the sterling market have lured issuers across senior and covered markets this week ◆ Lloyds' offering is among the rare deals from top UK borrowers ◆ Issuers funds with 5bp NIP

Green moving to Lloyds Bank Corporate Markets

◆ Lloyds opts for short-dated euro transaction ◆ Transaction six times subscribed ◆ Sterling issuance eyed amid structural demand

◆ European banks lead issuance with focus on senior funding ◆ Market wobbles prove funding more challenging than expected ◆ Foreign banks’ capital raising is one prominent feature

◆ Two banks print €2bn on the back of almost €5.5bn combined demand ◆ Investors keen to pick up yield through subordinated debt ◆ All this, despite tier two paper trading tighter than a year ago

Second foray into Samurai market this year

Sovereign gets second largest book ever despite political hubbub

Issuer raises £1bn from a three year covered bond, the third in the currency since Nationwide and Skipton issued longer deals

£3bn residential mortgage portfolio sale ‘on track’ and tipped to 'completely solve the problem'

◆ How German deal demonstrates improving sentiment ◆ Paper from UK and Italian banks also popular ◆ Issuers urged to print as investors fall into line