EMEA
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Two syndications have landed the sovereign €16bn with just one more trade left to do
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Deal pile up means days of 40bp tightening during bookbuilding could be over for now
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◆ Deal execution is ‘exemplary of the current market’ ◆ Demand drops by around €2.4bn from peak to landing, yet clears 10bp inside fair value ◆ Issuer reduces cost with bullet and counts SP bonds towards MREL
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The sovereign wealth fund has already raised $5bn via conventional bonds this year
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More real estate debt on offer despite waning demand
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Listing of Dubai’s car park business to be the Emirate’s latest privatisation
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The emirate may have to offer a bigger concession than some recent sovereign issuers
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Debut €500m five year deal spotted up to 7bp through reoffer in the grey market
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Sharp spread tightening still possible despite slew of trades lining up
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Issuer becomes the latest to capitalise on momentum behind Turkey's stockmarket
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Swiss bank expected to offer a pick-up over other non-eurozone names
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The German state needs to raise 20% more than initially planned