Europe
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◆ French issuer prints two year floater and 7.4 year bond ◆ 'Tightest' pricing on a FRN since US-Iran war began ◆ No concession needed to print -
◆ French utility returns a week after A$1.25bn debut ◆ Six year tranche pulls stronger demand than 12 year ◆ Both legs land close to fair value
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Nine banks chosen to run £1.5bn borrowing programme
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Head of funding Jochen Schader says strong promotional lending has pushed the 2026 target above €15bn, as the agency caps its dollar programme before the summer
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◆ BBVA opts for green five year bullet ◆ Pays concession for secondary performance ◆ Outperforms SNP supply from last week
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While European companies lock in attractive euro funding through private placements
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Issuer leaves more NIP than earlier this year, as order sizes shrink after busy May and June
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‘Notably better’ spread cements sovereign’s standing, thanks to triple-A rating and solid fiscal position
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◆ Issuer taps euros, sterling and dollars across 13 tranches ◆ Second deal for NTT this year ◆ Premiums needed to sweeten the size
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◆ Bermuda-based insurer ends two year tier two absence ◆ Borrower marketed as 'new credit' after UK M&A deal ◆ Outperforms other FIG deals on Tuesday
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All as expected by the market, but lack of more details regarding bill issuance somewhat disappoints
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◆ Deal 'tight from the outset, but deliberately so' ◆ Slim concession paid ◆ Washington supras in dollar focus
