Goldman Sachs
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Sovereign issuer passed ‘real test for investors appetite’ after returning to IG ratings status
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◆ Money centre banks drive $25bn-plus three-day issuance rush ◆ Goldman first refinances capital with new, cheaper deal and then returns for senior funding ◆ RBC debuts its most subordinated debt in US dollars
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German agency gets €19bn of orders despite slowdown before holiday
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SSA issuers jump into first available window after several central bank rates decisions
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The biggest IPO of 2024 so far in Europe has delivered a welcome bounce in the aftermarket
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The German cosmetics retailer fell over 7% below its IPO price on the first day of trading
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The final size of the base deal will be Sfr2bn after the IPO was priced at the top of the range
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Douglas is expected to achieve a multiple of 6.1-6.3 times its 2024 Ebitda
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The biggest IPO of the year so far in Europe is multiple times covered, according to sources
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One banker in London has gained a clear edge in internal rivalries as Goldman fights to get back to the top of the European M&A rankings
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The Dubai car parks operator's flotation was more than 165 times covered
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Investor orders came to 14 times the deal size
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Europe's biggest IPO of the year so far gains traction with investors
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Banks sell £308m of stock as Blackstone doubles down on call options strategy to quicken exit
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French agencies’ pricing versus govvies continues to compress
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◆ Barclays unlocked strong long-end demand for its first dollar trade of 2024 ◆ BlackRock raised $3bn as FIG supply booms
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More than $10bn issuance expected as AIIB and KfW announce deals
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“Pretty much fair value pricing” for triple-A rated sovereign
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Well-funded SSA issuers take their time, but weak secondary performance worries bankers
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Supra has already completed 44% of its borrowing by the end of February
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Some market participants saw just 1bp of new issue premium in the deal
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Fair value is seen around high-20bp with more than 10bp of pick-up versus KfW
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The US bank picked one of its own senior bankers to run the busiest equity syndicate desk in EMEA
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Issuer has done nearly €3bn of its €10bn programme and may return in March