Crédit Agricole
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Two European corporates have issued chunky privately-placed yen MTNs. Engie and TeliaSonera were both returning to the format for the first time in several years.
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Adif Alta Velocidad, the Spanish state high speed rail network company, received heavy domestic demand for its €600m bond issue on Tuesday, which enabled it to pay a single digit new issue premium, as La Poste had the day before.
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A supranational borrower looks set to bring an Islamic flavour to this week’s market, after announcing the mandate for its second sukuk.
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Finnvera took its first ever billion sized bite of a core currency bond on Tuesday, enticing investors with a juicy pick-up over its sovereign’s curve.
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France’s state postal service La Poste priced a €250m tap with relative ease on Monday, as corporate investors put in orders for a name considered an agency by some. La Poste is rated A/A+.
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The euro pipeline for SSAs is fit to burst amid strong conditions, with a trio of issuers hitting screens on Monday and at least one borrower set to come with a deal later in the week.
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Stephan Dorner has left his job as covered bond and SSA analyst at the French bank for a new gig at Morgan Stanley.
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A pair of oversubscribed deals at the long end of the curve in euros this week has reopened a market that has been moribund for much of the year, as investors come to terms with low yields, writes Tessa Wilkie.
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Korea Development Bank (KDB) staged a successful return to the international debt market on September 9, selling an SEC registered 10 year trade. The policy bank’s success is expected to encourage more Korean names to follow suit, but bankers are not necessarily expecting a rush of issuance.
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Tractel, the French maker of lifting machines being bought by Cinven, held a bank meeting on Wednesday morning, to present to potential investors the terms of its new €235m all senior loan package.