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FIG

Italians clean up in senior unsecured

UniCredit and Assicurazioni Generali on Tuesday proved that even competing trades could coexist in the senior unsecured market when there is enough demand, gathering over €10bn of orders between them for €2.5bn of paper. With spreads continuing to tighten, peripheral European credits offer investors the yield they crave, as Bank of Ireland proved on Wednesday.

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