US issuers seize on low euro rates to grab funding arbitrage
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FIGSenior Debt

US issuers seize on low euro rates to grab funding arbitrage

A trio of US banks found deep demand in the euro market this week, with Citi, Goldman Sachs and JP Morgan all drawing large order books for senior deals in the currency. A favourable cost of funding compared to dollars allowed the banks to offer up large new issue premiums to investors, calming the nerves of any investors concerned by the recent glut of supply or possible volatility from Thursday’s ECB meeting.

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