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Pension funds 'very much present' in the deal and central bank demand 'quite remarkable', says issuer
◆ Sovereign takes plunge into 30 year ◆ Book almost twice that of 2024 deal ◆ Large size, tight NIP, others encouraged
◆ Sovereign continues to break record after record ◆ New deal was 'a blowout by every definition' ◆ Second wave of EGBs underway, Belgium next
New mandate follows S&P outlook upgrade last Friday
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The Kingdom of Norway hit screens on Tuesday with initial pricing thoughts on its yearly syndicated benchmark.
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Italy printed €9bn with a 15 year benchmark on Tuesday, wowing onlookers with a new Italian order book record and a 4bp move from initial price thoughts.
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, February 10. The source for secondary trading levels is ICE Data Services.
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Italy is on screens with a 15 year benchmark, opting for the long end of the curve in spite of the concern some bankers have expressed about the difficulty of selling long dated debt.
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The Kingdom of Norway is eyeing the international investor base as it prepares to launch its yearly Norwegian krone bond syndication — a new 10 year benchmark, set to mature in August 2030.
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