Sterling
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Boon for UK water issuers as Thames woes look contained -
Issuer loses pricing momentum after 15bp-20bp of initial tightening as peer Thames Water junked
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Major test of investor demand for a sector under intense scrutiny
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A matter of ‘when, not if’ the troubled company will be cut to junk rating
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Issuer starts with rare sterling seven year and mandates for new dollar dual-trancher
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UK social housing providers planning to become one company by end of the year
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Sovereign wins record-breaking order book in first syndication since election
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After unsecured FIG issuance stopped entirely for 19 days in June subscription ratios have since shot up
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Regulator decision crucial as Thames Water aims to become ‘investable’ as it faces mounting debt and investor hesitation
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UK bank spreads calm and Gilt yields stable but all eyes turn to less predictable French elections
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Issuer proactively funds for new $15bn programme
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Issuer grabs one of its largest ever books in usual July trade
