HSBC
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French agency capitalises on rare capital market visit
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German policy bank in comfortable position after renewing its entire dollar curve
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Deal was issued after new green financing framework was put in place
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Issuers ‘strike while the iron is hot’
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Rare issuer brings lone trade in the currency while SSAs fund in dollars
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Firms facing consequences from green commitments
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Issuer passes 70% funding mark after upsizing in social format for the first time
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Latin American development bank reappears in sterling market after 22 years
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Second largest outing from a single deal for the WB since 2021
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Dollar SSA issuance to build, though euros offering tighter pricing for many
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Agency achieves record tightening, plans at least one other public bond in 2024
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New MD will join the bank's global debt markets business in New York
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SSAs vie EU for attention as more issuance expected from Flemish Community
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Books for the European sovereign’s €5bn deal were ‘sizable for a linker’
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◆ HSBC adds €1bn tier two capital to recent Apac issuance streak ◆ Sabadell offers higher yield to but achieves tight spread ◆ SG goes Yankee for AT1
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European sovereign tests inflation-linked market as EU brings a new green bond
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The Dubai car parks operator's flotation was more than 165 times covered
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New sale landed with a limited new issue concession, bankers said
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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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◆ Eight foreign banks raise more than $18bn in three days as BMO adds another $1bn to multiple perps ◆ M&A funding also boosts February FIG volume to over $50bn ◆ Slow down felt by Thursday as spreads widen
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Two syndications have landed the sovereign €16bn with just one more trade left to do
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Bank of England, KommuneKredit and Agence Française de Développement also price deals
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BoE, ADB, KK and AFD follow peers into dollar mart after week of healthy demand
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Second largest book on record for the issuer after a 10 year it priced in March 2021
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HSBC takes a hit on its Chinese bank stake, while banking, capital markets and advisory revenues remained unscathed
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Latest deal came 1bp through fair value, according to the issuer
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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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Issuer will move to focus on euro and Kangaroo markets for rest of 2024, though another dollar deal is also on the cards
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The duration issuer ‘does not gamble on rates’ but pledges regular issuance pattern
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Issuer pushes spread tighter than recent deals from peers
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Demand for long-dated public sector bonds, including private placements, is rising
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KommuneKredit, CDC and MuniFin keep euro and dollar investors busy
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IADB, DBJ and CPPIB all grabbed large order books