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The US tech giant kickstarted what could be a deluge of debt issuance from the largest US tech firms
◆ Junior note lands tight to Class As ◆ No concession needed ◆ Lack of sterling supply allows for tight pricing
◆ Peak book the largest for an IG corporate in sterling since early November ◆ Issuer takes size at a tight spread ◆ Wide range of fair values spotted
◆ Spanish entity hits market with tight, opportunistic trade ◆ Some attrition as deal priced through inflection point ◆ Trade lands through fair value
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Premiums are six times higher than those expected before Credit Suisse's sudden collapse
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Corporates could issue again soon as investors believe Credit Suisse risks have been contained
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Swiss franc issuance on hold until Credit Suisse fallout settles
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Deals being shunted to next week as already small issuance window slams shut
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Champion issuers needed to soothe nerves in thriving market
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Local borrower Ferring found a window on Wednesday before volatility shuttered the market