US dollar
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Issuer becomes only one of a handful of SSAs to print a decade dollar deal in 2023 -
Both issuers are issuing their longest tenors so far this year
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◆ Yankees dominate with over $8bn supply ◆ Foreign borrowers target window before NFP and US bank results ◆ Japanese financial institutions bolster TLAC needs
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Issuer prices at 'tighter end of range' as it gets new funding task underway
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Deal grows to $3bn, with minimal new issue premium
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◆ Foreign trio raises $6.5bn this week as Mizuho eyes $2bn ◆ Dollar takes ‘sweet spot’ for major banks over euros ◆ Sentiment for Yankee issuance keeps improving
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Issuers target both the short and the long ends of the dollar curve
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◆ UK bank shows affinity for tier two dollars ◆ Improved US market lures foreign bank capital issuers ◆ US market has great depth
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Dollars and Aussie dollars offered more competitive funding
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Italian lender pushes out to print 31 year non-call 30 note
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Market paying close attention to EU issuance plan
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Aside from its sheer scale, the US offers strategic funding that should be seized by European banks now that the market has reopened
