Banks
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◆ Investors find tier two FIG debt appealing ◆ Simultaneous execution helped by supply and demand mismatch, ECB rate cut expectations ◆ Both deals land flat to FV with multiple times coverage ratios -
Promise of arbitrage draws foreign borrowers to Swiss franc market
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Investors have swarmed to FIG FRNs despite looming interest rate cuts
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Second largest outing from a single deal for the WB since 2021
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Nordic supra plans to keep up pace of issuance into the summer
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◆ Canadian bank kicks off new quarter for US market after strong Q1 ◆ Local insurers fund in absence of bank deals ◆ Focus turns to US bank results
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Latest Canadian issuer in euros finds little competition
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◆ Issuer notches sharpest tightening since rebranding to land €500m three year close to FV ◆ Virtually no investor drops ◆ BFF Bank may launch social debut on Friday
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Société Générale’s plan to escape its long underperformance is an old idea: ‘originate to distribute’
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One banker judged the sovereign to have landed 5bp-10bp through its euro curve
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World Bank and OFTF among SSAs filling the dollar pipeline
