Covered Bonds
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Asset managers less concerned about missing out on covered bonds, argue some bankers, while others highlight the relative value versus SSAs
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Issuance to pick up, but funding officials could favour more attractive senior unsecured deals
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Swiss lender took the maximum it could out of the local market
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The deal appealed to asset managers looking for ‘spreadier products’
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Investors pledged over €875m of orders for the sub-benchmark sized deal
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The French bank attracted a peak book of over €2.65bn
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TD has been the only Canadian bank to visit the market this year so far
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Swiss franc bond investors take lower interest rates in their stride as hunt for duration continues
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Flurry of issuance satisfies parched investors and raises hopes for more across the capital structure
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Issuers may be lured to refinance maturing Pfandbriefe amid benign funding conditions
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Issuer clears £500m deal 3bp above where NatWest issued on Monday
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Leeds Building Society is lining up a similar five year deal for £500m