July 19, 2024 07:33 GMT
€IG Primary Tracker (By Week)
CREDIT SUPPLY
- Low volume week, ranking 22 out of 29 for the year at EUR 6.95bn across eight lines from six issuers.
- Fifth lowest cover ratio of the year at 2.5x vs. YTD total of 3.3x.
- NICs rebounded from last week’s lows to sit with median and average NICs of 10-11bps
- Of the NICs we calculated the ENBW 36s left the most on the table at 15bp, tightening just 20bp from IPT and with a cover below 2x. CredAg’s SNP 31s was the strongest deal, tightening 33bp to leave a NIC of just 8bp with a cover of 5.3x.
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