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Wells Fargo hasn't wasted time in the bond market this week. It launched a euro senior bond on Wednesday, a day after raising sterling debt. Concurrently, Spanish lender Kutxabank was marketing a senior non-preferred bond in euros, its debut in the format.
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GlobalCapital has revealed the results of its Sustainable and Responsible Capital Markets Awards 2019. The Awards gave honours to three debut sovereign issuers: the Netherlands, Hong Kong and Chile, investment firm Amundi, and banks including Crédit Agricole, HSBC and ING.
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A smaller deal size, a high-profile cornerstone investor and plenty of early engagement with investors have put Budweiser Brewing Company Apac’s second attempt at a Hong Kong IPO on solid ground.
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UK coach operator National Express has entered the US private placement market, according to market sources, looking for £200m-equivalent, in dollars, euros and sterling.
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Two UK airports set to sell US private placements - Market first as Northern Irish housing association seeks US PPs - Kernel set to secure yet another facility, as EBRD continues Ukrainian push - RMB Mauritius secures loan, months after dollar debt transfer
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A pair of Eastern European corporate borrowers are in the market for dollar paper on Thursday, taking advantage of excellent market conditions to secure cheap funding.
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Corporate bond issuance in euros was busy again on Tuesday, with four deals, but they were moderately sized, so the total was nothing like Monday's haul of €6bn and £1.25bn.
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The first deal of the September rush set an impressive bar for a rush of borrowing from its peers in the commodities sector. Russia's Severstal pulled off an $800m five year bond priced flat to its curve, achieving the lowest yield ever for a corporate from the region.
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Severstal, a Russian steel manufacturer, hit screens on Monday morning with a five year dollar benchmark.
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De Volksbank was three times subscribed for its debut green bond this week, despite not offering much in the way of yield or new issue premium to its investors.
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The Netherlands Development Finance Company (FMO), made its Uzbekistani som debut this week to take advantage of funds flowing into EM currencies thanks to low rates in dollars. Elsewhere, euro investors are looking at the ultra-long end of the SSA market.
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Credit Suisse and SpareBank 1 priced deals in senior format this week, choosing longer maturities to avoid entering negative yield territory. SpareBank 1’s €500m green bond attracted demand of €700m but leads were not able to tighten pricing to the tight end of their price guidance.