Europe
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◆ Near-record book of ‘exceptional’ quality ◆ Ten year tenor, fixed income inflows help demand
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◆ Orderbooks show better resilience ◆ Vier Gas’ grows between pre-rec and final count ◆ New issue concessions rise with deal deluge
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◆ Tight deal reprices new issue market ◆ Deal comes through Leeds ◆ Investors keen to pick up sterling covered paper
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◆ Company brings rare hybrid from chemicals sector ◆ Peak demand over six times the deal size ◆ Bid for corporate hybrids remains strong
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◆ Political instability pushes French spreads wider ◆ 'Investors see value' in heightened spreads ◆ BFCM's execution could guide others
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◆ Flow picks up in undersupplied currency ◆ Deals get decent support ◆ More sterling issues to come
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Bankers see stabilising activity after sustainability-linked volumes 'decoupled' from wider lending market
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◆ French issuer sells hybrid and two year floater ◆ Peak orders for hybrid more than eight times deal size ◆ FRN prices inside fair value
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◆ Second French senior bond in a row after slight improvement in tone ◆ Clear concession to cushion political jitters ◆ €4bn book proves appetite for French FIG
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◆ How French issuers are responding to political ructions ◆ French corporate, agency, bank and sovereign bonds discussed ◆ French lender brings innovative European Defence Bond
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Primary market unruffled, but EFSF and EU to test sentiment next week
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Foreign investors show confidence in French assets, including innovative defence financing deal, as political concerns grow