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Sub-sovereigns

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Guillaume Pichard, assistant deputy minister, on the five year call, the repo boost and the cost versus home
◆ State’s pre-summer deal attracts €2bn book ◆ Maybe only one more deal to come on reduced needs ◆ 2bp NIP to start as issuer tries to ‘be fair to the market’
◆ Canadian province tests post-Starmer sterling ◆ Five year choice keeps the buyers ◆ New issue concession estimated
SSA
Nine banks chosen to run £1.5bn borrowing programme
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  • The weather is often awful. Hotels and restaurants are still expensive, even after the devaluation of the króna. And when you’ve seen one geyser you’ve seen them all. So why is Iceland enjoying a tourism boom which has taken local economists by surprise?
  • SSA
    Leads on Luxembourg’s debut sukuk will price the deal on Tuesday afternoon, after attracting a satisfying €500m in orders from high quality accounts, said bankers on the deal.
  • SSA
    Luxembourg is expected to price its inaugural Islamic bond through mid-swaps on Tuesday, having started execution around 10bp back of its conventional curve, said debt bankers away from the deal.
  • SSA
    Province of Ontario has mandated banks for its debut green bond, which is set to come to market this week.
  • SSA
    The Province of Ontario is attracting offshore investor interest to its green bond debut — which is set to be priced this week — despite the choice of currency meaning demand will be dominated by Canadian buyers.
  • SSA
    Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.