Euro
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◆ First euro print for the sovereign since 2022 ◆ Focus on price over size ◆ Euro all-in cost proves attractive -
◆ Premium paid debated ◆ Uncertainty about tenor chosen ◆ More covered supply to come as issuers adapt to higher premiums
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German state has wrapped up fixed rate programme, with just one FRN left for the year
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◆ Rival bankers suggest issuer dropped initial 10 year plan ◆ Agency pays new issue premium ◆ Investors eye pick-up over OATs
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◆ New issue and tender help shave 40bp off price ◆ Pricing comes inside fair value but RBI trades wide within Europe's banking sector ◆ Bawag preparing green senior preferred
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Investors are punishing whole sectors for a few problematic companies — but they feel they have good reason
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Supranational’s chief financial officer speaks to GlobalCapital about the plans ahead
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◆ Inflation-linked products ‘more than welcome’ ◆ Record euro linker book ◆ Ten-year plus bid draws demand
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◆ Issuer scales back size target ◆ Hesse was ‘doing the sensible thing’ ◆ Both short and long-end euros tricky to navigate
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◆ Issuer starts wide of EU to attract demand ◆ 'Solid' backing for longest covered bond since June ◆ Has to leave 'elevated' premium
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◆ ABN senior preferred green draws 'respectable' book ◆ LBP finds French risk aversion ◆ Danske FRN has slim subscription
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Borrower only manages to tighten spread 15bp during bookbuilding
