JP Morgan
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French agency capitalises on rare capital market visit
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Sovereign issuer passed ‘real test for investors appetite’ after returning to IG ratings status
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The European Investment Bank and Greece are prepping trades
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Issuer has more to fund this year than last, as Canadian SSAs ramp up borrowings
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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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At least four issuers will price dollar deals of between three and 10 years on Tuesday
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‘The market is all fired up’ ahead of possible rate cuts from the European Central Bank
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Second largest outing from a single deal for the WB since 2021
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Latest Canadian issuer in euros finds little competition
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Deal was oversubscribed with €110m of lead manager orders
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Block trade of €560m hedges JP Morgan position, cuts Stone Island family’s stake
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The long-end deal is judged to have paid 1bp-3bp new issue premium
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◆ Morgan Stanley and JP Morgan flood market with new senior euro paper ◆ MS goes big across the curve ◆ JPM concentrates on ‘strategic’ long end
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Sovereign envisages further ESG issuance
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US drug maker's stake in Haleon set to fall to 24%
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Issuer last brought a green bond in 2022 but has been active via taps
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Sovereign’s rarity makes finding fair value a challenge
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German sub-sovereign again proves that it 'owns the long end' in euros
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€1bn deal comes very tight to KfW and Germany
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Banks sell £308m of stock as Blackstone doubles down on call options strategy to quicken exit
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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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Sub-sovereign continues to chip away at its €9.6bn annual programme
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More than $10bn issuance expected as AIIB and KfW announce deals
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JP Morgan’s top banker in Europe is known for his determined style and will not shy from the big decisions needed for Citi to deliver on its plan
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Danish agency scored largest ever book and at a tight spread to US Treasuries
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Long wait ends with super-high profile appointment
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Turnaround follows two months of outflows and a heap of new issues
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‘Textbook’ trade takes place in an otherwise quiet market
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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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Swedish issuer bags largest ever print in single currency with first syndication of 2024
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Risk-on mood in markets has not turned into a cash cow yet
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JP Morgan is forging even greater integration with a new look commercial and investment bank as Daniel Pinto’s 12 year reign comes to a close
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A pair of German development banks also brought new issues on Tuesday
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Finanzagentur offers 2bp premium for investors with a 5bp concession for Greece
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Overwhelming demand has led to an unusual upsizing of a no-grow deal this week