Weekly Covers
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◆ French bank built €8.6bn order book ◆ Strong performance underlines demand for 10-year covereds ◆ Covered note bank's third deal in three days -
◆ Five year deal soars ◆ Issuer upsizes deal on strong demand ◆ Minimal to no concession paid
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◆ Return to 10 year gets deep demand ◆ Spread vs peers had tightened ◆ 'Quite exceptional' primary markets
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Third equity-linked deal appears as ECM ramps up
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◆ UniCredit finds ample demand for dual-trancher ◆ First issuance since Moody's upgrade ◆ NatWest leaves 2bp of NIP for investors
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◆ Deal part public sector, part mortgage covered bonds ◆ Both legs 'at or close to fair value' ◆ Covereds oversubscribed due to political uncertainty
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◆ Almost €6bn raised across seven tranches ◆ 12 years is the 'sweet spot' for supply ◆ Single digit concessions offered
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Demand was near three times the size of the state-owned bank's deal
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Hungary took euros on Wednesday and showed investors have a taste for shorter paper
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Demand for a senior trade from Israel was high on Wednesday
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Epiphany holiday followed by deluge of euro issuance on busiest day ever as issuers go big and early — and with no end in sight
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World Bank tops 2025 issuer rankings for private placements
