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Risk arbitrage traders, among others, are betting on continued upside in General Electric by buying medium and long dated call spreads on the back of a speculative corporate split off, according to strategists.
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The SSA issuers which came ahead of the ECB meeting on Thursday were wise to fund early. The Eurosystem will be a big buyer, but will dislocate the market.
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North Rhine-Westphalia will hit the 10 year part of the euro curve with its debut sustainability bond, which is expected to be priced this week.
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Private equity, once the acquisition champion, is being trounced by boring old corporate buyers and IPOs. But 2015 will still be a year to savour for levfin.
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France’s Caisse d’Amortissement de la Dette Sociale has hired banks to run a three year syndication in dollars, sounding investors 10bp over where European Investment Bank printed a deal on Tuesday.
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Finland showed what is possible at a deeply negative swap spread and sub 1% yield in the long dated part of the euro curve on Tuesday.
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Madrid has raised 15 year cash with its second bond in as many weeks — and the borrower’s sovereign could break its yield record at a similar tenor on Thursday.
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Syngenta, the company created in 2000 through the merger of the spun-off agribusinesses of Swiss pharmaceutical company Novartis and the UK's AstraZeneca, has priced a €500m 12.5 year bond.
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Ineos, the Swiss-registered chemicals company, has set price guidance on its €750m refinancing loan in dollars and euros, slightly ahead of Tuesday’s 2pm lender call.
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World Bank has unveiled a five year Kangaroo hot on the heels of a Nordic Investment Bank tap of a 2020 bond in the format.
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Irish budget airline Ryanair has flaunted its investment grade credentials, pricing its second bond, a €850m eight year, with a minimal new issue premium.
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Edenred, the French prepayment services company, issued a €500m 10 year bond on Tuesday to fund its €150m acquisition of 34% of Germany’s Union Tank Eckstein, and to refinance debt.