Location
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Market awaits EU’s lead once election volatility subsides -
Governments on the continent face a tricky time balancing needs of population with demands of overseas lenders
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◆ Rapid bookbuild ◆ Investors ‘don’t care’ as issuer pays negligible concession ◆ Tenor maximises Bund spread
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The proposal still needs IMF and official creditor approval, which is not certain
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Spread pressure will rise as earnings return to growth for the first time in five quarters
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The Australian dollar deal is the first of its kind from US insurance heavyweight since 2020
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Third step of Clariane's four-legged debt restructuring plan was 1.67 times oversubscribed
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Commercial lender becomes seventh Chilean FI with bonds outstanding in Swiss francs
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Market expected to shut after Wednesday as UK elections and US holiday loom
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The country does not need to issue again overseas this year
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◆ Austrian lender nearly four times covered ◆ Bankers question whether the deal started wide despite double digit tightening
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Investors are cautious but the deal is “a good test" of the current environment
