Sterling
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Massive market swings make analysing new issue premiums a challenge
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Interest from assets managers led the German bank to issue a rare fixed rate sterling deal
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Fresh supply sets 'encouraging' tone for January — but issuers should expect to still pay up
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BP hybrid sees one of the smallest books of the week
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◆ German lender raises £325m with rare fixed rate note ◆ Calculating fair value 'hard' ◆ Leads looked at euro covered and sterling senior unsecured comps
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◆ Deal size increased to £375m from £250m ◆ Danish issuer's second largest print in sterling ◆ 'Positive takeaway' from smaller agency deals
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◆ Aareal's first covered bond in sterling since 2021 ◆ Comps include euro covered and sterling senior unsecured bonds ◆ Issuer to buy back previous note
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◆ Bankers debate premium ◆ Minimal attrition in order book ◆ Domestic buying interest
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Heavily indebted company expects its yields to fall after next month's regulatory milestone
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KfW first to return to the primary market with opportunistic sterling tap
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Class A bondholders expect to get a quorum for the lending deal the utility agreed to
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New loan also removes dividend cap restrictions