Deutsche Bank
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Two syndications have landed the sovereign €16bn with just one more trade left to do -
BoE, ADB, KK and AFD follow peers into dollar mart after week of healthy demand
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Agricole issued early in January, but found the market in better health on its second visit
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Some market participants saw just 1bp of new issue premium in the deal
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Fair value is seen around high-20bp with more than 10bp of pick-up versus KfW
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Investor hunger for rare names and long tenors helped multilateral price tight
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Issuer will move to focus on euro and Kangaroo markets for rest of 2024, though another dollar deal is also on the cards
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The duration issuer ‘does not gamble on rates’ but pledges regular issuance pattern
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The sector’s tight valuation versus the likes of KfW is capping demand
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Plenty more to come yet from the Finnish agency, including green and possibly social bonds
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French, German and Canadian issuers printed their first euro bonds of the year
