Euro
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The last week of June and the first week of July have traditionally heralded the start of the Wimbledon tennis championships. This year, however, the corporate bond markets have also seen a lot of back and forth as investors remain sensitive to potential risks.
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A pair of supranational issuers are this week bringing new currencies to their green funding offerings.
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The State of North Rhine-Westphalia is set to bring its longest ever euro benchmark, as public sector borrowers line up trades across the currency’s curve.
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Dutch residential property company Vesteda offered euro corporate bond investors the first deal of July on Tuesday when it sold a €500m eight year trade to help refinance its acquisition of the Amstel Tower apartment block in Amsterdam.
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As the second half of 2018 started, the corporate bond pipeline was healthy. The immediate problem for the market to solve was not one of supply or demand, but how it might handle turbulence if the German government was to break up.
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Guarantor: Federal State of North Rhine‑Westphalia
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