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◆ BPCE attracts biggest book since February ◆ Long five year appeals to wide range of investors ◆ Pick-up paid over secondaries and OATs
◆ Book holds firm throughout pricing ◆ Recent comps lead to different fair value assessments ◆ 3% coupon appeals to high quality investors
◆ 10 year 'surprise' reopens euro covered market ◆ Concession needed to seal the deal ◆ Trade lands through OATs
◆ Finnish deal delivers size ◆ Trade already spotted tighter in secondary ◆ Finnish supply lagging 2024 year to date
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Issuer prices close to fair value, having pulled a 12 year tier 2 in early January
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Mood stays 'very constructive' as ECB meeting proves a 'non-event'
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German issuer follows recent French successes in longer-end
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Issuer responds to bank treasury demand for FIG FRNs and seven year duration
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Success follows €1bn 10 year senior sale on Monday
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First euro covered bond long than 10 year for a year deemed ‘very successful’