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◆ German grid funds capex drive with dual tranche hybrid ◆ Demand holds firm despite aggressive tightening ◆ Deals land close to fair value
◆ 12 year tranche is longest euro trade in weeks ◆ Issuer goes for price then size ◆ Some concession needed for dual trancher
In an age of abundant information and opinion, where much of it is wrong, smart investment bankers can still be valuable to clients by embracing the complexity
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