Citi
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Largest ever US bank capital deal sold this week as another big perp also appears amid hunt for yield
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◆ Citi and Wells Fargo opt to issue in euros before dollars ◆ Citi's offer described as first post-GFC euro tier two from a US bank ◆ Both banks achieve competitive funding in 'green flashing' euro market
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◆ Greek bank's first bond of the year vastly improves on last year's financing ◆ Scarcity appeal, buyback, and higher UniCredit ownership help crunch spread ◆ Old bond to be bought back above par
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Bulge bracket firms are hiring from each other in a war for talent to woo financial sponsors
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Former senior JP Morgan banker's first year in charge has brought both success and upheaval
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Bank has raised DCM team leaders after round of departures
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◆ Large deal kickstarts FY 2025-26’s linker programme ◆ Shorter maturity caters to investor demand ◆ ‘Consistent, business-as-usual approach’ celebrated by markets
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Improved all-in funding conditions lure a host of European banks to the US as Citi emerges with jumbo opco trade
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◆ ADB, KBN, OeKB price bonds ◆ Spreads to Treasuries in the spotlight ◆ Big books for all
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◆ Sovereign back again after 2024 return ◆ Record book for a conventional deal ◆ ‘Limited NIP' thanks to strong growth, rarity value
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Barrier moves to client role, Robins to retire
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◆ Deal draws £470m book ◆ Agency has not appeared in sterling in more than two years ◆ CDC plots two-day execution