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◆ 12 year tranche is longest euro trade in weeks ◆ Issuer goes for price then size ◆ Some concession needed for dual trancher
Investors maintain orders as issuers push tight, although some limits are appearing
◆ Canadian retail chain lands euro bond close to equivalent dollars ◆ Some concession needed for first new euro line in two years ◆ Minimal attrition as issuer pushes through 100bp barrier
◆ Vier Gas almost six times covered ◆ RCI Banque increases size ◆ Pair price with minimal concessions
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Chinese local government financing vehicle Qingdao West Coast Development (Group) Co sold its inaugural offshore bond on Monday, pricing the notes in line with its better-rated peer after an aggressive tightening.
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Italian crossover credit Immobiliare Grande Distribuzione, a real estate company, has hired banks for a sub-benchmark bond issue and tender offer, as roadshow calendars remain packed with deals.
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The Society of London, better known as Lloyd’s of London, is marketing a US private placement (PP). The insurance organisation's debut in PPs in its 333 year history is another sign the market is attracting a wider range of UK companies than ever before.
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Germany’s Daimler and the UK’s SP Transmission hit the sterling market this week, bringing deals that had to ride waves caused by European Central Bank bond buying and political upheaval in the UK.
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Colgate Palmolive and Boston Scientific Corp printed €1.9bn of bonds this week, the latest US companies in the line to issue euro debt.
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National Express and Citycon mandated banks on Thursday for bond issues, piling into the November issuance spree before the market goes into hibernation next month.