Belgium
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Industry-wide collaboration on distributed ledger technology governance is needed and policymakers must plan ahead for the impact of such advances on securities markets and post-trade infrastructures, The Depository Trust & Clearing Corporation has said. -
The Flemish Community of Belgium has announced that it will roadshow a euro syndication on September 26, while KfW has mandated three banks to sell a benchmark.
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Belfius Bank this week sold the first Belgian covered bond to price within a French covered bond. The deal also came with virtually no new issue concession.
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Belfius Bank has priced the first Belgian covered bond inside a French covered bond and with virtually no new issue concession.
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Buwog, the Austro-German residential property company, added to the recent reemergence of convertible bond issuance on Tuesday, with the sale of a €300m deal, while the Belgian real estate investment trust Cofinimmo also came to market with a €230m deal to buy back bonds due in 2018.
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Talk of the European Central Bank extending its bond buying programme to banks sent the iTraxx Europe Senior Financials credit default swap basket back within 20bp of the Main index on Monday and to its tightest levels since the UK referendum vote on EU membership at the end of June.
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Two European real estate investment companies have wrapped up loans in the last week, though borrowing by the sector is lagging behind bumper 2015 volumes.
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Approaching US money market fund regulation is providing European public sector institutions with perfect conditions to borrow in dollars.
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A strong second quarter performance in fixed income trading has bolstered BNP Paribas’ corporate and investment banking results and helped cushion falls in its equities business and domestic retail banking arm.
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Belgium has sold a three year dollar benchmark, finding strong demand in spite of a US Federal Reserve meeting scheduled for Wednesday night and the traditionally quiet summer period.
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A string of dollar issuance from public sector borrowers is set to extend into Wednesday, as Belgium mandated in the currency following a pair of deals from an agency and a supranational.
