BMO Capital Markets
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German agency saw greater savings than what its sovereign was thought to have managed on the same day
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Firms facing consequences from green commitments
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Investors have swarmed to FIG FRNs despite looming interest rate cuts
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Dollar SSA issuance to build, though euros offering tighter pricing for many
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Bond was sized to ensure secondary performance, and it indeed it has performed
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Danish agency scored largest ever book and at a tight spread to US Treasuries
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Deals takes syndicated dollar issuance in the SSA market to $10.1bn this week
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Bank of England, KommuneKredit and Agence Française de Développement also price deals
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Canadian bank hires two bankers for syndicate and origination roles
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NWB Bank lands all-time record book
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Both names drew large oversubscriptions despite bringing similar trades
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Issuer will move to focus on euro and Kangaroo markets for rest of 2024, though another dollar deal is also on the cards
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Issuer pushes spread tighter than recent deals from peers
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Luxembourg-based supra leads Tuesday’s deals as EDC and Land NRW also enter market
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Plenty more to come yet from the Finnish agency, including green and possibly social bonds
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Overwhelming demand has led to an unusual upsizing of a no-grow deal this week
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KommuneKredit, CDC and MuniFin keep euro and dollar investors busy
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IADB, DBJ and CPPIB all grabbed large order books
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Beijing-based supra ‘extremely tempted’ to catch the strong bid in euros but says it is in no rush
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World Bank hits Gilt spread sweet spot as AIIB relies on SONIA
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The two deals are priced off different benchmarks
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When the shockwave set off by the failure of Silicon Valley Bank swept the legs from under Credit Suisse, all the talent and relationships of a big investment bank were up for grabs. UBS has tried to hang on to what it sees as the best bits — but the biggest beneficiaries are likely to be rivals. Jon Hay and David Rothnie report
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Supranational will return in syndicated format on Wednesday in dollars
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Issuer keeps an open mind but there is unlikely to be a ‘huge chance’ of the hybrid deal being done this year
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AfDB and Kommuninvest stay in the three to five year part of the curve
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Public sector borrowers will slip into the market ahead of the US Thanksgiving holiday on Thursday
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US dollar market helped the province to raise an equivalent of five to six domestic bonds
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The World Bank group borrower went further along the sterling curve than any other SSA this year
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Peer World Bank raised the same amount from its own floater the day before
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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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MDB wraps up its largest ever funding programme with a popular deal
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NIB lands tight pricing as IADB goes long
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Issuer has sold more international bonds than any of its provincial peers in 2023
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DBJ also came out on Tuesday with larger than usual tightening
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EIB, KfW and BNG lead peers as expected, alongside DBJ which announced last week
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The issuer has kept sterling investors busy with 12 deals this year