Issues
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Strong European participation suggests investors are shrugging off Russia war -
Deal makers have been encouraging the region's governments to develop a liquid blocks market after its IPO boom
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Banker was last a managing partner at Deloitte
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◆ Deal makes ‘a great story’ after previous senior offering struggled ◆ Investors are hungry for high beta Southern European bonds ◆ Attractive versus recent Nordea tier two
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◆ Portuguese insurer offers an ESG first ◆ ‘More scope’ for labelled perp capital from insurers than banks, says lead manager ◆ Investors liked ‘attractive outright level’
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IG corporates squeeze into the market with US names joining the fray
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Some African corporates will be watching Helios’ deal, but not all can follow it
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No premium was needed due to a late influx of strong demand
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Extremely tight spreads led to a large number of orders pulling out
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Appetite for Greek stocks remains strong, as investors are eager to play the country’s economic turnaround
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The last senior deal beyond six years was in 2021, before Russia invaded Ukraine
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Market should reject the widespread use of a higher rated hybrid
