Weekly Covers
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Whole business securitization called 'a coup' but doesn't reach $700m target -
◆ Bank's first dollar benchmark bond for 10 years ◆ Most of paper sold outside Dach ◆ Diversification achieved at a cost to euros
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◆ Issue follows success of Eurobank AT1 debut ◆ Multiple times covered ◆ Rare visit to primary market
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Spanish regional issuer plans to issue a European Green Bond annually
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Busy spring expected to suck volume from September window
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Supply so far this year from the country is the highest for nearly a decade
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Sales both raise about €115m
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◆ Issuer's longest ever public bond ◆ Priced tighter than debut eight year Pfandbrief ◆ Still offers premium to established compatriots
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◆ Sovereign bags another huge book ◆ Rare five year paired with 12 year green tap ◆ €59bn raised from four syndications this year
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◆ Carry turns less appealing for investors ◆ US bank holdco deals had pushed FRNs wider ◆ Opco vs holdco spread evaluated
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◆ More esoteric corporates head to euros ◆ London Power Networks makes euro debut ◆ Lagardère garners average demand despite eye-catching spread
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Investors have welcomed a naira devaluation, but it has hurt banks in Nigeria
