Senior unsecured slumps at September end
FIG markets closed September on a quiet note as a busy month’s worth of supply was digested and investors worried over the Irish bank bailout and the Spanish sovereign rating. However, dealflow could pick up next week.
There was just one primary senior unsecured issue this week from the newly reformed ABN Amro Bank while a Spanish savings bank sold a government guaranteed issue (see separate coverage).
Bankers say there is more supply to come in the fourth quarter, especially if market tone
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