Banks
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◆ Leads say deal landed well inside fair value ◆ Rivals say result points to ‘halcyon days’ of early 2024 ◆ Other issuers said to be eyeing Rabobank's callable FRN structure -
‘Brave’ choice to tap the 30 year part of curve but both tranches proved a hit
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Dollar-based funders return to the primary market
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More issuers, possibly including French SSAs, are geared up to tap primary this week
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◆ MPS to launch a new covered format ◆ Infrequent and higher yielding issuer suggests market is 'stable and open' after French elections ◆ A 'few other' covereds are in the pipeline
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Sponsored by Lloyds BankIssuers need to look to the future with clearly defined objectives and remain agile.
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‘Still some work to be done’ in bond market’s digital transition
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Agency is now 65% funded with another deal planned for a couple of months’ time
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The Australian dollar deal is the first of its kind from US insurance heavyweight since 2020
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◆ NIP consensus among bankers ◆ BMO finds it 'easier to attract demand' ◆ Favourable ‘timing’ and ‘optics’
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◆ More than €12bn of interest for popular offering ◆ 'All box-ticking' social leg was expected to do well from the start ◆ 11 year non-call 10 tranche shows duration demand intact
