FIG borrowers flee sagging euro market for sterling
Banks have turned to sterling denominated issuance for funding to escape the troubled euro senior unsecured market, in which just two benchmarks have priced this week, with a third deal pulled. JP Morgan tapped sterling demand in six years, printing £500m on Tuesday, and Crédit Agricole is looking to print a 10 year in the same currency on Wednesday. Friday's EuroWeek will carry full market discussion of what's on the way in the euro and sterling senior unsecured markets, and analysis of the week’s deals.
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