Banks
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◆ German issuer's covered was 3bp inside previous tightest ◆ Banker said tightest covered for 2.5 years ◆ Third German covered bond this month -
◆ First RT1 since January ◆ Huge order book with no attrition ◆ High-beta appetite increases further down the capital structure, lead says
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◆ Issuer's first sterling covered since September ◆ Positive sign for 'diversification' said a banker ◆ One of five tranches of covereds on Tuesday
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◆ Italian issuer's first covered since June 2023 ◆ Demand for seven year tranche was pleasing, says one banker ◆ Scarcity helped demand for euro transaction
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◆ Belgian bank fixed the deal size at €750m ◆ Issuer's first covered since January 2025 ◆ Third Belgian covered in just over a week
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◆ Order book peaked at close to €2bn ◆ Issuer announced plan to launch ESN in May ◆ Analysts predict mixed fortunes for instrument in the immediate future
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◆ Priced 5bp through TD's equivalent euro level, lead says ◆ Bank's first sterling deal in three years ◆ Joins rush of FIG issuance in currency
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◆ FIG spreads show resilience to Iran war headlines ◆ Book grew after price tightened ◆ Could have tightened further on a different day, says rival banker
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◆ Larger than average tranche sizes and price moves ◆ Encouraging sign for sterling issuance ◆ NIP debated
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UniCredit and Korea Housing Finance Corporation have started the week of issuance with deal announcements
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◆ 5bp of tightening is the ‘standard’, said banker ◆ NatWest’s covered slightly wider than tightest sterling this year ◆ Fifth covered on a Friday this year
