Natixis
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French issuer embarks on journey to raise €17bn-€19bn of green debt over a decade -
French agencies’ pricing versus govvies continues to compress
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French issuer prints largest bond after unprecedented demand
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◆ French bank adds Swissies to Singapore dollars and euros in ‘relentless’ issuance spree ◆ Funding boss Perrier discusses diversification aims ◆ Private trades across markets identified
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French bank aims for size over price, but lands in line with euro funding sources
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◆ Raises lower end of €1.25bn-€1.5bn target after feedback ◆ Reintroduces positive new issue premium from major FIG issuer ahead of possible slowdown ◆ Follows Singapore dollar tier two
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French bank is a force in covered and overseas unsecured issuance
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◆ French bank raises €500m from a 12 year non-call seven tier two social bond ◆ Strong demand for FIG capital pushes final book to €5.6bn ◆ UBS returns to Singapore with fresh AT1
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The duration issuer ‘does not gamble on rates’ but pledges regular issuance pattern
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Banks push longer and tighter but investors keep coming back for more
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Steep rise in hybrid yields makes companies look for ways out of replacement obligation
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◆ French bank goes beyond recent 10 year senior, covered deals ◆ UniCredit pushes pricing in SNP with 5bp NIP ◆ Market open for all as infrequent borrowers also lure big orders
