Spain
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◆ Borrower prices inside fair value ◆ Sub/senior spread less than 100bp ◆ Issuer accelerates funding to take advantage of good window -
◆ Santander and SEB print sterling seniors ◆ 'Opportunistic window' for issuers ◆ Possible sign of busy sterling market next week
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◆ Issuer captures strong opening to launch capital pre-funding ◆ Achieves tightest spread from Spanish bank in longest tenor ◆ But as market weakened the deal lost some steam
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◆ Spanish firm first to pair novel EuGB label with a hybrid format ◆ Trade lands far through fair value ◆ Joint largest book this year so far in euros
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◆ Spanish agency returns to euros ◆ Big demand for small deal ◆ Tight spread to Spanish govvie
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Spanish developer completes second raise in six months
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◆ Rare deal unhindered by softer market open ◆ Single day execution and structure hit 'investor mindset' ◆ Real money buyers support pricing close to fair value
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‘Long overdue’ upgrades not a surprise, but a relief, market participants say
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Second tier issuers already eying September for deals
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One major bank has underwritten three infra deals in the last week
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