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Second digital project won’t be the issuer’s last, Länder peers may be ‘interested and willing’ to join in
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◆ Half-year close keeps some issuers on sidelines ◆ Bankers expect big euro supply to come ◆ More concession on pricing could be required
A Kilt will pay a spread over Gilts it cannot justify on credit, which makes it a political gesture rather than a funding tool

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