Europe
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CEE corporate green bond issuance has fallen compared to last year -
Market still 'hot and busy' as borrowers line up
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◆ Long deal 3.4 times covered ◆ No concerns about pricing in busy market ◆ Pricing through OATs no problem
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◆ 'Impressive' result for Spanish bank ◆ Raiffeisen Hungary shows CEE appetite ◆ Ageas places short-dated sterling senior
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◆ Market's 'green light' buoys long end deal ◆ Sizeable books sticks together during pricing ◆ Attractive pick up offered to sub-sovereigns
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◆ Sovereign serves up annual international deal ◆ Priced at only 4bp over US Treasuries ◆ Recent KfW deal was 'good template'
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◆ Deal much more popular than issuer’s last ◆ Better tone, improved backdrop ◆ Extra 3bp ‘made a big difference’
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◆ Snam prints debut European Green Bond ◆ Heimstaden Bostad brings its first green note ◆ Both deals attract big books at tight spreads
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The UK Reit will see its margins reduced if it is upgraded
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Further covered deals expected but demand could skew towards riskier paper
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◆ Hybrids and Reverse Yankees on offer ◆ Market waiting for Iran's response to US strikes ◆ New issue concessions still in single digits
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Markets continue to remain benign, according to one EM syndicate banker
