Nordics
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◆ €500m no-grow print avoids competing supply ◆ 15bp-20bp needed to seal the deal ◆ Smaller names should be prepared to pay up in August supply rush
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‘Things didn’t add up’ for a tap until this week
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◆ Second bail-in euro note to also carry a green label ◆ Trade expected on Thursday following a day of investor calls
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A new dollar green bond in the autumn is on the cards to help the issuer meet €10bn target
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Finnish issuer ended an 18-month hiatus in the currency to bag savings versus euros
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◆ Sub sale sealed with single digit concession ◆ Strong demand paves way for more tier two trades to follow ◆ Proceeds could fund tier two call next year
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Nordic ECM issuance has been subdued in 2023, Dealogic data shows
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Issuer offers to exchange hybrid rather than not call it, but some say it's just kicking the can down the road
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◆ Alpha to restart what is expected to be more Greek supply ◆ One debut green euro bond prices, one more to come ◆ Demand for short end paper swiftly absorbs reverse Yankee
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The dollar SSA rush continues as ECB and Fed meetings approach
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German, Norwegian and Italian deals were successfully priced on Wednesday but lacked sparkle
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SSA trio keep dollar investors busy with two, five and 10 year bonds