Weekly Covers
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Lower rates and ample cash reserves could drive deal momentum -
EDP, Intea Fastigheter and Helios Towers blocks come to market
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◆ Relative value against covereds is important ◆ Spread 'could have been pushed more' ◆ Lack of SSA supply a factor
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◆ Swiss chemicals group sells two, five and nine year notes ◆ Single-digit premium paid across tranches ◆ Year to date domestic Swiss supply at record high
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Strong demand for slim supply could tempt issuers to access the market before Christmas
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Recent sluggishness experienced by a Saudi AT1 is unlikely to be repeated for KFH's deal
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◆ Combined demand peaks at more than €5.1bn ◆ Yield curve drives investors towards seven year ◆ No premium needed to hit size targets
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◆ UK telecom finds 'sweet spot' at seven year tenor ◆ Peak demand exceeds 4.5 times deal size ◆ Size increased on firm demand
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Short-dated, highly rated SSAs could trade tighter amid hopes of the US government shutdown ending
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Country’s IPO market is returning after lull caused by political instability
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ColCap, Equifinance, Paratus and Plata all have pre-funding in their deals this week
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More than $11bn of issuance this week means volumes approaching $300bn for the first time
