Pre-migration untagged articles
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Spanish issuers continued to find the long end of the covered bond market tough going this week in spite of their best efforts to satisfy investors, with a Eu1.6bn 17 year AyT Cédulas Cajas issue barely selling out.
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US hybrid capital bankers were stunned yesterday (Thursday) to see $4bn of demand pouring in from 190 investors for a $600m bond by Southern Union Gas, a double-B rated company regarded as a prime LBO candidate.
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Few single names grabbed attention in the European default market, although those that did were often of interest to dealers for only a session or even a fraction of a session.
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European credit indices pressed to narrower levels again this week. The Crossover Index, which has demonstrated the greatest propensity to rally, closed yesterday (Thursday) at 256bp compared to 269bp at the beginning of the week.
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Few single names grabbed attention in the European default market, although those that did were often of interest to dealers for only a session or even a fraction of a session.
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Mobile Telecommunications Co, the Kuwaiti mobile phone operator, has picked six banks to arrange a $750m syndicated murabaha financing.
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New records were broken this week in the senior market as Sanpaolo IMI brought the largest ever floater by a European bank in euros and the largest unsecured deal for an Italian bank borrower.
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Whatever happened to Charles Schwab & Co? Some years ago, while the dotcom bubble was still swelling and Schwab was flying high propelled by little more than hot air, we were asked why we paid almost zero attention to the company.
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French insurance group Axa's reinsurance subsidiary Axa Cessions has anounced the launch of Osiris Capital, its new programme for issuing extreme mortality cat bond transactions.
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US hybrid capital bankers were stunned yesterday (Thursday) to see $4bn of demand pouring in from 190 investors for a $600m bond by Southern Union Gas, a double-B rated company regarded as a prime LBO candidate.