Euro
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Deals from three to 10 years sail through this week as market returns
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◆ The two banks restart senior issuance from national champions ◆ Intesa takes double the funding in eight year tranche than in four year one ◆ Mizuho’s seven year gets ‘extra boost’ from green label
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Higher rates amplify asset class' attractiveness as summer break comes to an end
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◆ Issuer achieves the largest euro subordinated FIG trade in three months ◆ Deal praised for quality but investors show price sensitivity ◆ Views on NIP deviate from 5bp to 25bp
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EIB, KfW and BNG lead peers as expected, alongside DBJ which announced last week
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First euro trade of the month sees 2.5 times demand
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Trio of borrowers add to busy dealflow — with more to come
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Issuers tasked with resuming public sector's autumn supply in the past will do the same this year
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Supply chains under renewed pressure as Europe teeters on edge of recession
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The riskiest of investment grade issuers find themselves the belles of the ball
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◆ €500m no-grow print avoids competing supply ◆ 15bp-20bp needed to seal the deal ◆ Smaller names should be prepared to pay up in August supply rush
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Issuance not expected to return until the final week of August