Crédit Agricole
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◆ French issuer ends year-long absence ◆ Pricing was inside fair value ◆ Triple-digit spread over swaps -
◆ No book updates given ◆ German peer suffers the same fate ◆ Screen levels may have led to undersubscription
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◆ World Bank returns to five year dollars ◆ Rare IDA 10 year on offer in euros ◆ Supra open for business until year-end
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◆ Another $500m no-grow launched ◆ Can’t stay away from the dollar market ◆ Fair value hard to pin down
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◆ IBB has clear curve-building strategy ◆ Offers attractive pricing against KfW and Länder ◆ Five year tenor pulling in accounts
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Tech firm to repay part of WMWare financing after biding its time
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Banks are looking at next five weeks to raise anything from deeply subordinated capital to senior debt
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◆ Deal has a large $2.5bn size ◆ Front end opportunity opens up ◆ €18bn raised so far in 2024
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◆ Inflation-linked products ‘more than welcome’ ◆ Record euro linker book ◆ Ten-year plus bid draws demand
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◆ European banks' recent AT1s encouraged issuance as they continue to perform ◆ French bank issuing a day after calling a $1.25bn AT1 ◆ More dollar issuance due from EM banks
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◆ Big order book for long tranche ◆ Fair value debate ◆ Sources close to trade disclose it is not pre-funding
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◆ US election jitters prompt early final trade ◆ Issuer pays 'appropriate' NIP ◆ Possible pre-funding for 2025 via private placements
