Santander
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Investors are ready to embrace unsecured bank debt yet again — but at double digit new issue concessions
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◆ Global markets search for clues on how long before US rates are cut ◆ Fed path deemed more important than Middle East conflict in dictating primary market tone ◆ Pipeline across capital stack once clarity emerges
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◆ Santander paid 10bp-15bp new issue premium ◆ Lead says paid up more because of market uncertainty ◆ Some bankers argue Middle East conflict ‘had no impact on pricing and execution’
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Agency achieves record tightening, plans at least one other public bond in 2024
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SSAs vie EU for attention as more issuance expected from Flemish Community
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Latest deal came 1bp through fair value, according to the issuer
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UK lender prints largest single tranche covered bond from a foreign issuer since last August
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Early exit from blackout brings first mover advantage, as Swiss market shows it can offer size
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London-listed business closes syndication on acquisition finance
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New July 2054 attracts one of the sovereign’s largest order books, according to lead
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The $2.5bn deal has given issuer more time to think about its next trade
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Banks push longer and tighter but investors keep coming back for more