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Only one of Canada's big five banks has yet to publicly support new defence bank initiative
◆ Issuer's first benchmark after after active start of year in PPs ◆ Deal attracts big book despite large tightening ◆ Only KfW priced with lower spread to USTs this year
International interest for German paper has grown
ESM priced new €2.5bn 10 year at flat to EIB
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Policy bank to issue about €15bn this quarter -
◆ Central banks and governments want to take banks’ money ◆Where has the greenium gone? ◆ Direct lending goes investment grade
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Cost benefit mixed in primary market but investors see its value holding
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Peer World Bank raised the same amount from its own floater the day before
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Second benchmark in the currency for the Finnish issuer takes funding to 85%
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A longer break before the January rush kicks in may be what the SSA market needs
