SEB
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Senior funding there for the taking, covered bonds yet to take off — but conditions are great for all -
◆ Swedish bank prices the tightest senior non-preferred in more than three years ◆ Why spread breached 100bp ◆ Market 'busier than expected'
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◆ IDA fair value more art than science ◆ MuniFin gets over 140 accounts in its book ◆ Madrid makes debut EuGB trade
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Improved all-in funding conditions lure a host of European banks to the US as Citi emerges with jumbo opco trade
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◆ CIBC takes large share of the covered bond limelight as market tone improves ◆ SEB returns to euros for the first time in two years ◆ Outcomes likely to attract other issuers, say bankers
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◆ Priced off recent peer issue ◆ New levels found after swap spread moves ◆ Deal twice subscribed
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◆ New norm established for NIPs and spread tightening ◆ Some investors ‘burnt by govvies’ require more premium ◆ Rival bankers agree on NIP paid
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◆ New 10 year issued every year since 2014 ◆ Pricing comes close to flat ◆ One more syndicated offering planned
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◆ 'A nice spread' ◆ Upgrade potential ◆ BAWAG opts for sub-benchmark tier two
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◆ Longest trade in euros for SEK ◆ Book almost three times covered ◆ Rarity helps with tight pricing
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New head of debt management discusses first dollar deal of year
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Streak of high-yielding FIG credit attracting ample demand has been broken
