BMO Capital Markets
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◆ NIP consensus among bankers ◆ BMO finds it 'easier to attract demand' ◆ Favourable ‘timing’ and ‘optics’
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Supra issuer aims to fund $15bn in the year from July 1 and remains committed to dollar benchmarks
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Issuer also benefits from improving market tone as ‘every day is a little better than the last’
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◆ BMO Kanga gets them hopping outside of Oz ◆ HSBC sells into Japan and beyond ◆ Innovative yen coupon floor
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◆ Cross-border yen funding remains open despite volatility elsewhere ◆ HSBC firms up terms on senior Samurai from its Hong Kong bank ◆ BMO marketing senior deal in Australian dollars
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Canadian issuer taps into three different currencies within one week
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Canadian issuer takes bigger amount than originally targeted
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Other SSA peers held back as market turned volatile
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‘A number of milestones’ achieved from rare long-dated green issuance
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◆ Market volatility no hindrance for foreign and domestic FIG issuers ◆ They take advantage of favourable conditions ◆ May volume to end more than 80% higher compared with a year ago
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Redemptions, limited supply and a favourable rates outlook created a window for the issuer