Spain
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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 -
◆ 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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◆ Last euro non-preferred issued more than two years ago ◆ Debate on premium paid with leads spotting 'at least' a 5bp concession ◆ Final spread still a tight absolute level
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Swiss bank is only the second institution globally to use the instrument
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Neinor Homes' €225m equity issue six times oversubscribed
