Fund outflow fears and spreads dampen senior hopes
A noxious combination of investors worried about potential fund outflows and issuers unwilling to consider senior unsecured issuance at market levels could hamper primary deal flow in September, FIG syndicate bankers warned on Thursday.
Despite a rush of activity in covered bonds with UBS and UniCredit bookbuilding for deals on Thursday after ING restarted euro supply the previous day FIG syndicators said a senior unsecured reopening was not necessarily around the corner.
Its a bit early to tell, said one
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