UniCredit
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Land hits upper end of size target after being 'reasonable' about pricing -
Labels and length as issuers offer duration to market where 'mis-steps' still possible
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European agencies to dominate week’s issuance with Fed and Bank of England in focus
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Trio are coming from Aareal and UniCredit
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Praise for borrower's 'sensible' approach in tricky market
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Issuance from German states has increased 70% year-on-year
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◆ Deal expected to come wider than peers ◆ Wider spread likely to mitigate investors asking for shorter maturities ◆ Will be issuer's second covered bond ever
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◆ Domestic and international investors split over price ◆ Final spread strikes balance between differing spread opinions ◆ Debut deal attracts highly granular book
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Hesse takes €1bn after investors flock to Land NRW, Saxony-Anhalt and Land Baden-Württemberg
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German federal state attracts nearly €3bn of demand for inaugural social bond
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Two German issuers each took planned €500m from oversubscribed books on the same day as the sovereign
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Subscription ratio ends strong despite slow start to book building
