Weekly Covers
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Investors piled in orders more than four times trade’s size -
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◆ Macquarie tightened by 6bp to 27bp over ◆ Banker said this represented ‘small new issue premium’◆ Bankers said investor demand for covereds is cooling
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◆ Swiss issuer placed both tranches at €750m ◆ Spreads on both tranches tightened by 5bp ◆ ‘This was a slower trade,’ says banker
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Benin showed Islamic issuance is a viable market for sub-Saharan African sovereigns
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◆ AFT's Antoine Deruennes says 'clear message' showed demand for 30 year ◆ Speedy execution before US employment data ◆ Green OAT syndication next
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◆ ◆ 30bp was ‘right starting point’◆ Issuer lands at 'fair value'
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General syndication to be launched soon
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◆ Refi deal came as issuer prepares IPO ◆ Deal extends the insurer's tier two curve by 10 years ◆ 'Strong bid' for Iberian FIG credit, says rival banker
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Deal could include $950m of bonds
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Noba Bank block trade is first from 2025's IPO crop
