Currencies
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◆ Attractive pick-up to KfW and other peers ◆ Atypical tenor no trouble ◆ SSA appetite strong
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British-German publisher is a first-time Schuldschein issuer
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Dollar pipeline questioned as private placements slow
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◆ Euronext pushes short end sale tight ◆ Smurfit Kappa secures demand with new issue premium ◆ US logistics firm GXO debuts in euros
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New issue premium paid debated ◆ 'A lot of market' had expected dual tranche ◆ EU duration and funding needs questioned
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◆ Italian bank amasses €3bn-plus book for second covered of 2025 ◆ Bond issued at 45bp in line with Italian BTPs ◆ Bank said order book improved through the morning
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◆ UK regional lender refinances AT1 from 2021 ◆ £650 final book ◆ Market participant predicts wind down of 2025 primary issuance beginning
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◆ Tight deal secured despite equity volatility ◆ Demand stronger at the short end ◆ Proceeds will 'prudently' refinance upcoming maturities
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◆ Gilt market wobbles again ahead of UK Budget ◆ Investors pile into highly rated credit ◆ Wise makes sterling bond debut
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◆ Deal size matches bumper Scotia sale ◆ Sterling shows no signs of slowing, say bankers ◆ NAB previously tapped dollars and euros this year
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◆ Bookrunners keen to test boundaries with pricing ◆ Strong order book attracts high proportion of real money investors ◆ Trade tightened by 6bp
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◆ French lender amasses huge €4.5bn book ◆ CFF prices only slightly wider than OATs ◆ Strong conditions could attract prefunding trades