Banks
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◆ Bank aims for volume in the currency ◆ First deal since 2021 adds scarcity appeal ◆ Longer than five year maturity helped by Gilts outperformance -
The Canadian bank has issued covered bonds across four currencies in two weeks
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◆ Inaugural deal starts 40bp-50bp back of fair value ◆ BFCM's social sale proves popular as investors pledge €2.9bn
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The pair have targeted collateral optimisation as a potential area that could be improved by the nascent technology
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Neither issuer has left much on the table for investors
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NIB lands tight pricing as IADB goes long
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◆ Smaller European banks 'take advantage' of absent national champions in euros ◆ Bankinter, Santander Consumer Bank land deals with up to 10bp NIP ◆ Austria's RBI prepares debut SNP
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◆ Scotia unearths arbitrage and a greenium in Swissies ◆ Label fuels demand among asset managers for inaugural note ◆ Aktia eyes Swiss franc debut of its own
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German medical glassware maker launched the first major European IPO since early July
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Both issuers managed to summon large demand for their euro trades
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'Generally of the view that we’re at or around peak rates' says lead
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◆ Austrian lender saves with early tier two refi ◆ Others could follow into 'wide open' AT1 market ◆ Generali's popular tier two bullet shoots through fair value
