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Glencore Finance lone figure in corporate market

Commodity supplier Glencore mandated Barclays Capital, BNP Paribas, Credit Suisse and HSBC for a seven year euro benchmark bond today. Guidance has been set between 290bp and 300bp over mid-swaps. After GE’s disappointing results on Friday, and anxiously anticipated US bank earnings this week, many had written off the chances of any corporate new issuance in Europe this week. Read EuroWeek on Friday to find out how investors responded to Glencore’s offering.

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