Sterling
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State-owned UK social housing lender rises above sector’s worries -
Bank issuers may soon reinstate long dated senior issuance in euros as long as they swallow costs of steeper credit curves
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Issuer to fund €2.5bn with an average maturity of eight years
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The housing association's spreads have widened after cut to A- by S&P
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◆ Linker tap breaks multiple records ◆ Market engagement key to DMO's strategy ◆ 'Very encouraging' signal for new government financing remit
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Strategic refinancing of capital gathered pace amid low spreads, despite rising concessions
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◆ First syndication since UK’s Budget and last of 2024 ◆ New issue premium 'pretty impressive' for a 30-year index-linked bond ◆ Largest ever demand for the product
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Company made a domestic acquisition in September and is planning more
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◆ Landesbank opens new funding ground to meet sterling need ◆ Prints in weaker backdrop ◆ Pays premium for currency and inaugural aspects
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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
