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Most recent/Bond comments/Ad
Most recent
‘Very impressive’ market growth heralds more SSA and credit issuance
◆ Citi and Wells Fargo opt to issue in euros before dollars ◆ Citi's offer described as first post-GFC euro tier two from a US bank ◆ Both banks achieve competitive funding in 'green flashing' euro market
◆ Mediobanca latest Italian bank to fund amid M&A ◆ Deal well absorbed even at negative NIP, though some debate on price ◆ Similar dynamics gave Ifis tight spread and concession
CIBC raises deeply subordinated debt capital in dollars as diverse set of foreign lenders print senior bonds
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French bank aims for size over price, but lands in line with euro funding sources -
◆ Iceland’s Landsbankinn finds 'insane demand' ◆ Danish Arbejdernes Landsbank ‘slow’ progress blamed on unfamiliar name ◆ Fast money shows price sensitivity to SR-Bank trade
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◆ ‘Rare beast’ of a spread drives demand ◆ Deal increased as order book swelled ◆ Cross-currency basis has kept issuance at bay
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◆ New structure taps investor demand for short-dated credit ◆ Issuer saves on three month versus six month basis ◆ Callable format adds funding flexibility
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Issuing in euros gives favourable pick-up against dollar funding
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Hedge funds are more cautious and are 'thinking twice' before buying
