Currencies
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BPCE, Mediobanca and BayernLB all delivered on mandates revealed last week -
Issuer lands $11bn demand for first dollar outing and sells biggest sterling SSA for two years
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Demand outlook 'optimistic' as supra brings fifth sterling benchmark for the market this week
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Mediobanca, BayernLB, BPCE reserve primary market spots as others are expected to bring a deluge of issuance next week
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Projects for the rest of the year include a five year dollar deal
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Issuer has already funded about 12% of its annual target in just three days
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◆ European banks lead issuance with focus on senior funding ◆ Market wobbles prove funding more challenging than expected ◆ Foreign banks’ capital raising is one prominent feature
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Spreads gap out too fast after the credit rally of a lifetime ends, pushing price-sensitive issuers to reconsider their market entrance
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‘Very, very strong’ first week sets up bigger test ahead
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Buyers grapple with falling interest rates
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Issuers including Portugal, CEB and BNG braved a short window to get their first deals of 2024 done
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Issuer garners big demand in first deal since MSCI upgraded its ESG credentials
