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◆ Google parent prints largest ever corp deal in Australian dollars ◆ Investors queue up with monster orderbook ◆ Issuer pays modest concession to its dollar curve
◆ Infrequent issuer stretches euro curve by a year ◆ Order book barely budges through final pricing ◆ Bankers see high single digit new issue premium
◆ German firm ends seven year sterling absence ◆ Slim concession paid ◆ Deal tightly priced compared to euros
Google parent eyes four-part Aussie dollar debut
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Demand for issuer's 25 year was more than double that for its 12 year tranche
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Issuers flatten curves amid sharp U-turn in sentiment in favour of duration
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Wild rush of trades was never going to last
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Concessions in the teens and big book showed investors were unworried about falling demand for expensive goods
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Stability is more important than dazzling book sizes, say bankers, as issuance ploughs on
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Two hybrid trades this week have got away with zero concessions