US dollar
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◆ French bank double taps the dollar market to raise $4.75bn in senior and deeply subordinated debt ◆ BNPP attains its largest ever senior order book as demand reaches $15bn ◆ US insurance companies fund -
Signs of indigestion in the market after record buying from investors
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◆ Big premium at starting level erased completely by pricing ◆ Dollar destination of choice for AT1 issuers ◆ Second example of new structure from BNP Paribas
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US issuer lands 'outstanding' deal, prompts hopes it could spur Reverse Yankee issuance
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Euro bond investors put in orders 5.1 times the deal size as issuers smash records
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Issuer will move to focus on euro and Kangaroo markets for rest of 2024, though another dollar deal is also on the cards
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Commercial real estate worries creep back into investors’ minds but rate cut hopes and need to place cash prevail
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Primary activity is set to ease into next week as Lunar New Year holidays take place
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◆ Swiss bank launches sale into hot demand for bank capital ◆ CS AT1 wipe-out drives need to issue ◆ Final demand around $12bn
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Luxembourg-based supra leads Tuesday’s deals as EDC and Land NRW also enter market
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◆ Swedish lender prints $650m Reg S deal well inside fair value estimates ◆ Jyske prices largest ever AT1 deal ◆ Lower volume of Nordic capital supply and benign market conditions act as tailwinds
