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◆ Deal attracts highest bid-to-cover ratio of the year so far ◆ Extensive marketing helps fuel demand ◆ Pinpointing fair value tricky
◆ First Reverse Yankee hybrid of 2026 ◆ €7bn peak book for euro tranche ◆ US issuers increase European market presence
Data
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BP hybrid sees one of the smallest books of the week
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Banking borrower does not get same boisterous demand as other recent automotive deals
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Ratings downgrade follows S&P's, puts company on verge of technical default
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Marc Warm, Barry Donlon and Michele Cousins promoted
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Billions fall out of Stellantis's book after tightening by 40bp during bookbuilding
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Equinix, Otis and Zimmer take €2.7bn between them
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