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Funding across all parts of the capital structure is available with issuers likely to prioritise unsecured borrowing
FIG borrowers flood dollar markets as Westpac's SEC exit strategy pays off
◆ HSBC brings €3.25bn of funding across three tranches ◆ Lloyds opts for €750m single tranche before UK local elections ◆ Heavy euro FIG issuance as possible Iran deal announced
◆ UK bank uses the first issuance window after earnings, central bank meetings and holidays ◆ Deal coincides with busy euro credit market ◆ Barclays attracts attention with relevant new issue concession
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Italy’s scramble to prop up its weaker banks has halted what had been a strengthening rally in periphery bank debt last month, with the most recent deals all widening this week.
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India needs a green bank to finance the expanding clean energy industry, according to a joint report from non-profit organisations the Natural Resources Defense Council and the Council on Energy, Environment and Water.
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The Singapore branch of Industrial and Commercial Bank of China has become the lender’s first offshore unit to issue a fixed rate dollar bond this year, raising a larger than expected $800m.
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Industrial and Commercial Bank of China’s Singapore branch has ventured out to the dollar bond market straight after the end of Labour Day holidays, launching a three year offering on Tuesday.
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Dollar FIG volumes caught up with last year’s levels this week, after completing a dramatic turnaround with the help of a flurry of bank issuance in April.
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Nationwide Building Society launched a 10 year senior unsecured transaction in sterling on Thursday, building on the back of recent successes from other UK issuers.