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Orange has returned to the market to increase a long-dated private medium term note, a week after it sold the original print in its first appearance in the MTN market in two years.
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UniCredit Italy became on Monday the first Italian bank to break through the mid-swaps barrier with a covered bond, but it needed to employ its lead managers’ balance sheets to do it.
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Hypo Tirol has named leads for a new benchmark euro-denominated mortgage covered bond. Austrian mortgage-backed bond issuance appears to be gathering momentum after a long Heta hangover. However, rival bankers said that lingering concerns about the level of exposure the mortgage banks have to Heta may hamper the deal.
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A pair of supranationals have unveiled plans to bring bonds with an environmental flavour. One issuer may delight European Central Bank officials with a super rare appearance in euros.
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Covered bond issuers have front loaded this week, printing €5.5bn in just two days via seven deals.
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BMW continued a recent strong showing for auto issuers on Wednesday, attracting a strong order book for a dual tranche deal at a minimal new issue premium.
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Belgium on Wednesday printed the largest euro benchmark of 20 years or longer since the European Central Bank began a programme of public sector bond buying earlier this year.
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UK packaging company DS Smith revived its debut euro deal on Wednesday, finally selling the seven year deal six months after originally mandating lead managers.
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A pair of Asian agencies have tackled the long end in dollars, but despite attracting big order books and setting spreads at the tight end of guidance, bankers stressed the deals should not be taken as a sign that the dollar market is back to full strength.
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Caisse Centrale Desjardins (CCDJ) launched a two year floating rate note on Wednesday, making itself a belated addition to last week’s list of Canadian banks printing euro floaters.
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ABN Amro announced the lead managers for its debut additional tier one (AT1) sale on Wednesday. The deal will be the first AT1 trade the FIG markets have seen since August and, with markets looking healthy, more could be set to follow later this month.
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Etihad Airways will meet investors from Thursday to introduce a structured deal that has been alternately described by bankers away from the transaction as “impressive” and “too clever by half.”