Weekly Covers
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If Romania can tackle its deficit then government and state-owned issuer borrowing costs will fall
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BPM spreads 'unlikely' to widen as issuer remains 'a takeover target'
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◆ Debut issuer draws solid demand ◆ Orderbook almost touches £1bn at peak ◆ Investors see triple B corporate sterling as enticing prospect
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Market participants ‘certainly won’t get bored’ during quiet weeks for issuance
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Deal is first in format from an EM sovereign since 2023
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Issuer weighs up currency costs and sentiment
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Ranajoy Basu joins from McDermott Will & Emery
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◆ First offshore deal in sterling since PRA debacle in April ◆ Canadian undersupply driving demand ◆ Euro still better despite the UK Treasury's equivalence plans
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◆ Reverse Yankee with 7 and 12 year maturities ◆ Abundant liquidity hunts for extra yield from US credits ◆ First euro benchmark for FedEx since 2021
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Senegal bonds are trading at distressed levels and there is a risk of restructuring
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First international bank tier two in Hong Kong dollars since NAB’s club placement in 2023