Greece
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◆ Euros over dollars for Sweden's only international deal of 2026 ◆ Pricing inside KfW, good pick-up over ESTR ◆ Greece brings €3bn 10 year tap -
◆ Greek bank's first deal of the year ◆ Issuer took advantage of an empty market ◆ Priced with 5bp-7bp of new issue concession
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◆ Greek bank tightened spread by 25bp ◆ One of two green bonds sold on Tuesday ◆ Green label creates 'stickier' order book, says banker
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◆ Deal is the tightest ever Greek AT1 ◆ Book peaked more than €5.5bn ◆ Market 'just ridiculous', says lead manager
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◆ Leads increase deal size due to demand ◆ Book kept growing after reoffer tightened ◆ Gap between Greek and Italian spreads shrinking, says rival banker
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CEO named for new branch, more hires to follow
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◆ Classic 10 year to start the year ◆ Record spread to swaps achieved ◆ 'Fantastic' and 'well supported' trade, NIP also compressed
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Steeper curves cloud long-dated issuance for next year, with reordering of relative value pecking order to persist
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Despite next year's funding needs remain limited to around €8bn, the sovereign is confident its positive story will help its spreads maintain their outperformance
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◆ Late start followed with quick updates ◆ Fair value debated ◆ Greek paper getting 'too tight' for some investors
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◆ €500m 6NC5 senior priced at 90bp over mid-swaps ◆ Concession debated ◆ Rounds out a successful year for Greek banks
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◆ Alpha enjoys IG welcome ◆ Order book five times subscribed with a touch of concession ◆ South European banks' 'convergence pattern'
