Americas
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Second Canadian lender to declare official support for embryonic SSA issuer as government takes lead on establishing new entity -
Another defaulter, Argentina, likely to tap market this year
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Strong demand and tight spreads has propelled volumes past January records
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February could bring the next US supply wave, with tech names leading the charge
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◆ US tech giant prints largest euro IG corporate trade of year yet ◆ 12 year's spread tightens hardest ◆ Issuer also priced a $3bn deal
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First Canadian province to visit euros in 2026
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◆ US dollar benchmark had been slated for later in Q1 ◆ 10 year tenor also considered ◆ Hedge funds allocated more than in some SSA peer deals
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Regional US and Canadian banks dominate issuance as tight spreads outweigh Greenland jitters
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◆ Spread tightened by 5bp ◆ Banker put fair value just inside 58bp ◆ Canadian banks continue strong start to year in covereds
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◆ Short-end offering a rare opportunity ◆ Issuer 'liquid' and 'well-liked' ◆ New issue concession estimated
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◆ Joint largest US bank deal in euros in at least five years ◆ More than twice subscribed ◆ Heightened premium compared to dollar funding
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Bankers say deals are still being launched and believe international rivalry can be negotiated
