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Sub-sovereigns

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◆ Rarity helped the 10 year deal ◆ Spread over KfW estimated ◆ Upside demand as order book grows
Funding director Jason Lewis and portfolio manager Greg Horan reflect on biggest ever Canadian provincial bond
An public sector issuer breaking a record with a deal this week became so common a claim it began to sound like, well, a broken record. But questions remain about how robust demand really is
SSA
Markets ‘not out of the woods yet’ as large sovereigns shorten execution process to de-risk issuance
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  • SSA
    Land NRW closed books for a Eu1bn 10 year benchmark on Thursday morning with around Eu1.2bn of orders.
  • SSA
    The Greater London Authority (GLA) is set to meet investors next week over a potential debut sterling benchmark, EuroWeek understands. GLA has mandated Lloyds to manage the meetings.
  • SSA
    Ile de France issued its inaugural Australian dollar note on Friday on the back of a reverse enquiry from Asia looking for a rare, high quality sovereign supranational and agency name.
  • SSA
    Province of New Brunswick sold a rare seven year trade on Thursday night, capturing an arbitrage opportunity to get more attractive funding than in its domestic currency while attracting sufficient demand to allow it to increase its planned issue size.