EUR New Issues: Banks still active as pace slows

Pipeline construction
The pace of new issuance has slowed but several banks are active.

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New issues

  • BPCE is pricing EUR 5y around swaps +110bps and 12y NC7 Tier 2 around swaps +280bps via Natixis (B&D).

  • Bspk Schwaebisch Hall plans €500m (max) long 9y Covered through Deka, DB, DZ, Natixis and Swedbank.

  • Arkema is pricing €400m (max) 8y around swaps +135bps through CA, CIC, Citi (B&D) and SocGen.

  • AIB Group is pricing EUR 6.5y NC5.5 Social around swaps +225bps through Barclays, BNPP, HSBC, JPM and UBS.

  • EDP is pricing EUR 60.25y NC5.25 Green Hybrid around 6.75% through Barclays, HSBC (B&D), BNPP, Caixa, Citi, IMI, JPM, MUFG and Mizuho.

  • RLB Tirol plans €500m (max) 5y Covered through Commerzbank, Erste, helaba, Raiffeisen and UniCredit.

  • RLB Vorarlberg is pricing €300m 4y Covered at swaps +23bps through Commerzbank, Deka, Erste, Helaba and RBI (B&D).

  • LBBW is pricing €1bn 3y Covered at swaps -5bps through DB, ING, LBBW (B&D), Lloyds, SocGen and TD.