DZ Bank
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The German toy production company doubled the size of its RCF but maintained its banking consortium -
◆ UOB cited last week's DBS covered as a comparable ◆ Singaporean bank issued a sterling covered last week ◆ Issuers using different currencies back-to-back is not unusual
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◆ German issuer showed little order book attrition ◆ UniCredit shared primary market with four others ◆ Market set to slow after a fast start
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◆ Korean lender capped trade to focus on spread ◆ Shared market with four other deals ◆ Asian firms have been busy since market reopened
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Retail and services company initially targeted €100m with third transaction since 2022
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Deal includes $1bn 3.75 year term loan
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The German pharmaceutical wholesaler was upgraded to BBB- by S&P last month
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◆ Dutch bank is a regular covered bond issuer ◆ Issuer's tightest spread since October 2024 ◆ Deal's 'reluctant reception' was 'a bit of a pity', says banker
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◆ Canadian bank had primary market to itself ◆ Deal offered small new issue premium, says banker ◆ EBC meeting expected to close the pipeline tomorrow
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◆ German issuer's covered was 3bp inside previous tightest ◆ Banker said tightest covered for 2.5 years ◆ Third German covered bond this month
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◆ Banker said deal offered small new issue premium ◆ Green label was 'helpful' if not 'decisive' ◆ Bank has issued 15 tranches of covereds in three years
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◆ Order book grew steadily to close at its peak ◆ Second EuGB covered bond ever issued ◆ French lender's previous covered was in January
