Banks
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New plan involves hiring to make ECM and M&A revenues match DCM in three years -
Six covered bonds were issued in three days this week but there is uncertainty over the pipeline from here
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◆ Final book under €800m ◆ 'Low single digit concession' ◆ 'Trickier' for German LBs in senior than covered
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Hires come as BNP Paribas climbs UK ECM league table
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◆ Aussie lender places second covered in a week ◆ Order book passed €4bn by late morning ◆ Bankers saw 36bp at or just inside fair value
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John Winter will hand over to former colleague
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◆ Deal is the year's largest single tranche covered bond ◆ Order book reached €3.5bn by mid-morning ◆ Banker said covered bond market 'getting trades done at size'
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Bank is building US business after Bernstein JV
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◆ Deal size matches bumper Scotia sale ◆ Sterling shows no signs of slowing, say bankers ◆ NAB previously tapped dollars and euros this year
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◆ Bookrunners keen to test boundaries with pricing ◆ Strong order book attracts high proportion of real money investors ◆ Trade tightened by 6bp
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◆ Final book over €2.5bn for €500m deal ◆ 'Reconfirmation' of strong background for credit ◆ Lead tells issuers 'print now if you're ready'
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◆ Books over €3.4bn ◆ Tier two priced tighter than some recent SG SNP notes ◆ More capital trades predicted in coming weeks
