Euro
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◆ Danish lender prints €750m for the first time ◆ Backed by its largest real money participation, the deal achieves Jyske's largest book -
French rates risk appetite returns but OAT spreads still a hurdle for covered issuers
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European banks joined corporate long-dated fray this week as investors showed ample appetite for more
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Market looks beyond Asia holiday for uptick in issuance with dollar duration tipped
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A slow January could be completely recovered if US issuers turn up in force again for February
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◆ Spanish agency takes €1.5bn ◆ Books were equally strong for both tranches ◆ Large demand consistent with recent deals
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Agency could skew issuance to dollars in 2025 funding programme
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'One can definitely see the attraction to investors,' says issuer
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◆ Slim book for German lender ◆ Investors hesitant over spread to SSAs ◆ Single digit concession needed
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◆ Both 2025 primary debuts are mid-range senior preferred bonds ◆ Belfius offers some premium but loses more orders than Iccrea ◆ Both deals achieve same subscription ratios
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◆ Deal attracts largest CEE euro covered book ◆ Book holds up after 'aggressive' 12bp move ◆ Bond prices through fair value, but setting the level proves tricky
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Arranging a cheap loan in return for lucrative ancillary business is a tougher sell
