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Higher Gilt rates have powered yields on credit, making up for tight spreads
◆ Euro funding competitive with GS' dollar curve ◆ Large premiums left on all tranches ◆ Massive investor demand
Capital injected into 35 funds with 6,800 LPs, including private credit
Data
Beyond the proposed lower leverage ratios, new frameworks may give banks more flexibility at times of stress
Recent Unicaja tender and new issue prompts talk of wider adoption of debt management technicque more popular in US market
Banks are well advanced with funding, but spreads could encourage pre-funding of subordinated capital
Europe’s regulator proposes preserving capital requirements while trimming the complexity that hampers cross-border M&A
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Tight spreads are offering attractive funding climate for foreign as well as diverse US financial institutions, including those exposed to private credit -
Borrowers want to issue and spreads are tight, but execution windows are very unreliable
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Burst of deals this year in uneven market suggests investors want alternatives to Treasuries
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◆ First FIG sterling deal in a month ◆ 'Staggering' £4.2bn book from global accounts ◆ Door open for future sterling issuance
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◆ Issuer took advantage of attractive euro funding levels ◆ 'The best quality name you can buy,' lead says ◆ Premium paid
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Higher dollar yields dampen some of the callable demand
Polls and awards
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Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
The awards recognise the market's leading deals, issuers, banks and other participants
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
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