Currencies
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Swiss bank is only the second institution globally to use the instrument -
◆ Inaugural green deal from issuer ◆ Low beta offering draws good order book ◆ Investors may be looking further up the capital stack
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‘Historically impressive’ pricing achieved as funding for $19bn-$20bn programme begins
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Investors are thirsty for yield and willing to sacrifice spread
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Dollar market shrugs off war threat
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Technicals trump geopolitics as investors chase yield and spread
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Fresh Nato commitments will test bond market capacity as major issuers reveal funding updates
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Nato commitment to ramp up defence spend a boon for defence sector debt chances
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Two-part trade opens new investor base for the LatAm sovereign
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◆ Issuer maxes out on size ◆ Short dated dollars made sense ◆ $6bn done so far, more to come
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The financing follows the completion of site's construction
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Investor relations efforts and euro demand help issuer price at ‘ambitious but not unrealistic’ level
