Issues
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Demand was nearly eight times the deal size -
UK oil and gas company issues first bond after huge acquisition
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Deal will allow company to reduce interest cost
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◆ Swiss Life resuscitates euro capital issuance ◆ Rarity, company size help drive price through fair value ◆ Sogécap avoids French concerns
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◆ First euro print for the sovereign since 2022 ◆ Focus on price over size ◆ Euro all-in cost proves attractive
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◆ Premium paid debated ◆ Uncertainty about tenor chosen ◆ More covered supply to come as issuers adapt to higher premiums
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German state has wrapped up fixed rate programme, with just one FRN left for the year
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◆ Rival bankers suggest issuer dropped initial 10 year plan ◆ Agency pays new issue premium ◆ Investors eye pick-up over OATs
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◆ New issue and tender help shave 40bp off price ◆ Pricing comes inside fair value but RBI trades wide within Europe's banking sector ◆ Bawag preparing green senior preferred
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Brazilian debutant offers 13% at IPTs two months after first roadshow
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Sovereign likely to return to finish off fundraising for 2024
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Fellow Romanian issuer, NEPI Rockcastle, also drew high demand
