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Investors make their preferences clear in rare SBAB and Raiffeisen Croatia senior syndications
◆ Both banks issue their second ever euro deals in respective asset classes ◆ SBAB prints much tighter but also ends up with lower oversubscription ◆ Higher spread pick-up on the Croatian deal lures buyers as issuer's credit profile improves
◆ Demand solid across seniorities ◆ Hybrid regular Veolia moves into green structure◆ Swisscom shows investors also looking for thinly priced debt
DNB and Lloyds to entice 'others to follow'
◆ New deals expected to encourage other borrowers into euros and sterling ◆ Tight funder DNB shows spreads still a touch wider than pre-tariff volatility ◆ Lloyds' home foray underlines improved relative funding cost in sterling
◆ Demand solid across seniorities ◆ Hybrid regular Veolia moves into green structure◆ Swisscom shows investors also looking for thinly priced debt
Sub-sections
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From humble beginnings, debt-for-nature swaps are now generating meaningful sums of funding -
◆ BPCE flags new deal as potential sole euro Tier two of 2025 ◆ Immediately follows with 'attractive' multi-tranche Yankee ◆ Generali funds grandfathered capital buyback with new €500m green line
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◆ Deal more than twice covered ◆ Pricing tightens 3bp ◆ KfW expected to open supply next week
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◆ Bankers disagree on NIP ◆ IADB demand allows larger size ◆ AIIB releases sterling IPTs
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◆ One of the first SSAs out in 2025 ◆ Sterling social bond market underdeveloped ◆ Small new issue premium
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In just two months, the Bahamas, Barbados, Ecuador and El Salvador have doubled the number of debt-for-nature swaps completed by EM bond issuers. These transactions could make the product easier for other countries to replicate
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Dedicated EM impact investing is still at small scale
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Italgas shareholders approve €1bn rights issue
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◆ Quick into market after Trump pauses tariffs ◆ Lands close to fair value ◆ Defensive tactics in bookbuilding
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Bank asserts ‘commitment to sustainability’
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◆ Bankers say deal was postponed ◆ Book covers size four times ◆ 'Safety first' in current environment
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Securitization will be central to EBRD’s new five year strategy
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Bank to keep backing Ukraine and start operations in Benin, Côte d’Ivoire and Nigeria
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US administration has cut funding for IFAD and said nothing about EBRD
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Issuance plans sketched out but defence-orientated MDB must gain inter-governmental support first
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Former JP Morgan DCM head and RBS treasurer join as special advisors to multilateral defence funder
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Kai van der Kolk will advise on corporate finance transactions in the sector
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I manage my team the way I was managed — to get results. Now I'm being punished for it. It feels more than a little hypocritical
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Investment banks wishing to cut costs with AI should remember what clients pay for
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The processes of choosing a new Pope and someone to run Crédit Agricole’s CIB may have more in common than you think
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DocMorris announces Sfr200m rights issue expected in May
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Stock drops 17% in highly volatile market
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Deal follows steep share price fall
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by Emirates NBD Capital
Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
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Sponsored by Instituto de Crédito Oficial
ICO: a benchmark issuer in the European sustainable bonds market
