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Post-Budget window lures sterling issuers while January pipeline swells for a busy start to 2026
◆ Aroundtown returns with first deal since 2019 ◆ LondonMetric makes debut ◆ Busiest December for sterling issuance in more than a decade
◆ Demand peaks at 3.3 times the deal size ◆ Spread tightened by 30bp ◆ Final deal size at the upper end of expectations
◆ First deal in sterling since UK budget ◆ Book falls as deal prices tighten ◆ More sterling supply expected before Christmas
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Markets are proving ever more resilient in the face of shifting policy
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◆ Toyota and Logicor drum up strong books in euros ◆ Volkswagen proves sterling investors still looking to allocate funds ◆ Liquidity trumps all
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Only two companies brought dollar bonds in short week
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Second busiest week of the year but some see signs that investors are losing interest in new paper
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With conditions this good, it makes sense for companies to take a dip
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◆ Mercedes-Benz continues corporate sterling run ◆ Small orderbook after lead interest discounted ◆ 2030 bond lands inside the company's 2028 notes