Europe
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◆ French defence company returns after three years ◆ Combined books peak near €4bn ◆ Higher order book attrition on longer leg -
◆ Books sticky throughout execution ◆ Debut deal lands tight ◆ Commitment to single-A rating drives first time trade
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Issuer already funded across the curve from five to 30 years in euros this year, reaches 80% target
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Undisclosed institutional shareholder sells stake in Wednesday evening ABB
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◆ Nordic sovereign brings year's final euro deal ◆ Pricing strategy adjusted after secondary widening ◆ Land NRW attracts with pick-up over KfW
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The new issue premium was slim, thought observers
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◆ 'Moderate' oversubscription levels ◆ Belfius offers higher NIP for larger size ◆ SpareBank achieves tighter pricing on green five year
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◆ Two German names appear on the same day ◆ KfW's spread 'more generous' this time ◆ 'Good quality' book for Rentenbank
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◆ Infrequent issuer stretches euro curve by a year ◆ Order book barely budges through final pricing ◆ Bankers see high single digit new issue premium
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Private equity company cashes in on remaining holding after earlier divestments
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◆ Germany taps 2056s for second time this year, taking €4bn ◆ Spread was fixed from the start, rare for the issuer ◆ ‘Very, very flat’ 2054-2056 roll was key to the decision
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◆ German firm ends seven year sterling absence ◆ Slim concession paid ◆ Deal tightly priced compared to euros
