EMEA
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Even at top end of range, volumes will still be far below March 2024 -
Euro and dollar bonds to come from the issuer before the summer
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The refinancing comes as a two tranche facility
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◆ Hamburg prices with 1bp of NIP ◆ Länder orderbooks growing ◆ More deals to follow
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Turkish issuers planning new bonds may have to hold off for a week or two, said one investor
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Borrowers stay away after roaring week for those that did come to market
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◆ Land NRW garners €4.5bn peak book ◆ Debt brake vote passes without issue ◆ Hamburg prepping Wednesday deal
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◆ Both deals almost four times covered ◆ Pair tightened by 7bp ◆ Next to no premium paid for either bond
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The loan is aligned with its sustainability commitments
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◆ Roaring rated debut for Ipsen ◆ Final orderbook 10 times deal size ◆ Spread lands well inside higher rated comparable names
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The company has also added a new lender to its banking group
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◆ Borrower lands inside fair value for second year in row ◆ Orderbook ends near peak despite heavy tightening ◆ Investors say there is 'too much liquidity'
