Banks
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◆ Canadian lender sells first Friday bank print in euros since April ◆ Euro market offers something different to dollars ◆ Concession of 15bp needed to seal the deal
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Investors spying peak rates are packing the new issue market, tempting issuers to accelerate
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◆ Foreign trio raises $8.25bn in the US before the FOMC disrupts issuance ◆ Danske was the latest to tap the market in SP structure
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Issuer has one more benchmark transaction planned for 2023
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◆ SocGen stands out with its first bond outing after new strategy revealed ◆ Debt investors show better welcome for the €2.5bn dual trancher than equity markets ◆ Crédit Mutuel Arkéa completes €500m tight print
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The shadow of Slawomir Krupa’s CIB legacy looms large over Société Générale’s new strategy for global banking and investor services, which hasn’t prompted a warm response
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◆ Swiss bank chose the US market for its double first outing after its Credit Suisse takeover ◆ Investors flock to the latest senior bail-in bond ◆ Some see it as precursor to AT1 return
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Borrower has €3bn left to fund this year and has identified one currency in particular for issuance
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Labels and length as issuers offer duration to market where 'mis-steps' still possible
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Hard limits prevented Cembra from tightening beyond 80bp over Saron
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Issuer completes sterling funding at better levels than its recent euro outing
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◆ BNP Paribas sells longest senior euro note since July ◆ Slim 2bp-3bp concession needed ◆ Investors hungry for duration with accounts interest out to 30 years