Euro
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◆ AT1 volumes reach €5.5bn-equivalent since post-tariff reopening ◆ KBC pays premium for larger size ◆ BPM benefits from takeover tightening
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◆ Sovereign back again after 2024 return ◆ Record book for a conventional deal ◆ ‘Limited NIP' thanks to strong growth, rarity value
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◆ UK insurer makes rare visit to euros ◆ Signs of growing investor discipline ◆ Groupama tier two was 'good trade'
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Three year maturity fills important funding gap for highly rated names, say lenders
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◆ IG corporates pour into market ◆ Little sign of fatigue despite range of trades on offer ◆ EDP and Kering hit euros and RAC gets blowout response in sterling
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◆ British Columbia and Paris print 15 years ◆ Ico tests tight spread versus Spanish govvie ◆ IDA brings rare euro five year
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◆ Novo Nordisk brings €6bn trade days after CEO leaves ◆ Tranches priced with similar premiums ◆ No sign of investor fatigue for jumbo corporate trades
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◆ Italian bank raises €1bn after a similar euro pair last week ◆ Year-to-date euro AT1 new issuance volume is almost a quarter higher than 2024 ◆ Deal completed with minimal new issue premium
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◆ Second phase could be novation of ESM's €74bn existing portfolio ◆ Dealers eye Eurex-LCH CCP basis ◆ Eurex reports 'significant onboarding' from investors ahead of Emir deadline
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New research from Oxford University and Pemberton suggests once-niche financing is getting a stronger foothold
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◆ Third benchmark trade from Luxembourg-based supra this year ◆ Govvie yields higher after US downgrade but issuer undeterred ◆ Execution was quick and typical
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Company calls on its relationship banks to bump up the size of its RCF