Weekly Covers
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Varied issuance in senior credit this week, including blue and green bonds, as ultra-long vanilla duration returns in SSA private placements
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Any deal would be the first French agency Kanga in more than 15 years
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Investors seek yield in long-dated FIG subordinated and senior markets
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◆ Only second Canadian province in euros this year ◆ Premium paid debated ◆ Rarity value supports transaction
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◆ Longer tranches earmarked for Hinkley Point C financing ◆ Books close at just under €11bn ◆ Single digit concessions offered
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◆ Deal is the fourth EuGB labelled hybrid ◆ Issuer punches through fair value... ◆ ...and gets its tightest senior/sub spread
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Critics doubted the EU Green Bond Standard would catch on, but it is gaining new issuers and a following from investors
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Liquidity event at American manager comes at fraught time for industry
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Shrinking spreads between the two asset classes have left investors asking if the risk of senior debt is worth it
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The UAE will leave emerging market bond indices next month but its issuers will not suffer much, if at all
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Abbott Laboratories plundered $20bn as it led a trio of drug companies which printed jumbo bonds as a deluge of supply in the dollar market ensured a red-hot end to the month.
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Investment bank, like the group, wants to diversify outside France, and will lead with its strongest suit, real assets