Euro
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The Autonomous Community of Madrid has crushed its long dated borrowing costs with a 15 year euro medium term note. -
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The State of Brandenburg drew a well oversubscribed book for a no-grow €300m August 2036 bond on Tuesday, adding to a spurt of 20 year euro deals over the past two weeks.
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David Leeming, head of hybrid capital and liability management at RBS, has left the bank.
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The State of Brandenburg drew a well oversubscribed book for a no-grow €300m August 2036 bond on Tuesday, adding to a spurt of 20 year euro deals over the last two weeks.
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US coatings manufacturer Axalta priced its $875m dual currency offering on Tuesday as it brought this week’s second cross-border bond, at pre-Brexit pricing levels.
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The German State of Brandenburg is set to double the record for its longest ever syndication, after hiring banks on Monday for a no-grow €300m 20 year bond.
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The downward spiral of euro periphery borrowing costs on Thursday showed no signs of slowing. For the second month in a row, Italy sold five year paper at a record low yield
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After widening substantially in the run-up to the UK referendum on EU membership, UK covered bonds have now found a base with dealers reporting better buying and analysts recommending overweight positions. Spreads should remain supported, along with those in peripheral Europe, as supply is likely to be very limited over the remainder of this year.
