Bank Nederlandse Gemeenten
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Issuers face a field of hazards, including opaque pricing and unreliable secondaries
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Borrower has €3bn left to fund this year and has identified one currency in particular for issuance
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Labels and length as issuers offer duration to market where 'mis-steps' still possible
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Reluctance to show hands has led to smaller books and higher concessions
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Reception from investors on Tuesday are weaker than some had expected
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EIB, KfW and BNG lead peers as expected, alongside DBJ which announced last week
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Both supply and demand are on the rise to support more long-dated paper
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SEK re-entered Kangaroo market as public sector borrowers added to old lines
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Big issuer expected to bring short dated deal but sovereigns and supras will stick to euros next week
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More public sector borrowers are looking at Swiss francs, but the market is not there for every name — yet
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KommuneKredit, BNG sell rare offshore Swiss franc SSA deals
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Issuer moves quickly after latest US CPI print lifts sentiment