Currencies
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◆Improved Japanese investor appetite visible in non-preferred tranches◆ Two more issuers may print in yen as early as next week◆ Crédit Agricole takes different approach with Panda -
Issuance from German states has increased 70% year-on-year
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Issuance boost for currency as supra joins CPPIB in issuing £1bn
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◆ Over 90bp of pick-up offered over larger building society peers ◆ Investors presented a wide range of comps for inaugural sale
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Spirits company heads to Belgium and Luxembourg's retail bond market
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◆ Abanca surprises some with early AT1 refi via tender ◆ Piraeus looks to ride warm reception for Greek assets ◆ Different investors expected to support both deals
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First whole business securitisation since the Thames Water debacle began
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Strong issuers get better than expected traction, sparking opportunistic deals
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Investors pile into the long end of building materials company’s trade
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Electricity company prioritises price but still raises €850m
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Attractive arbitrage still available for firms looking to print before the market slows down
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◆ Issuer committed to cancelling as much old capital as possible ◆ Buying back above par ◆ All buying-back thanks to new AT1 providing capital optimisation
