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Hungary could raise close to €600m
The reaction was so benign that a small bank printed an AT1 this week
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The bank will take $600m on a book twice that size
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From humble beginnings, debt-for-nature swaps are now generating meaningful sums of funding
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Hungary and Slovenia jump in for a combined €3.5bn
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Books were over $2.1bn for a $1bn trade
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There was no hesitation in starting issuance this year with subordinated debt
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Sovereign has taken out two-thirds of the year's international funding plan in one swoop
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