EMEA
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Investment grade companies issue €20bn of euro bonds this month -
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◆ Agency brings planned October benchmark ◆ Regulatory boost received in July ◆ Bonds now trade closer to Bpifrance
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Company's debt woes has seen its credit rating cut another notch
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Investors' wariness around high beta credits is not showing in the primary market
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◆ Deal hits size and price targets ◆ Starting spread catches investors' attention ◆ Small pick up offered over OATs
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About 30% of the deal expected to go abroad as other EM discount retailers will serve as comps
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Average new issue concessions a fraction of what they were a year ago despite almost double the volume being priced
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Creditors can and will be bumped down the pecking order at the time when it matters most
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The Abu Dhabi Pension Fund, Bahrain's sovereign wealth fund, Emirates International Investment and the Oman Investment Authority have promised to buy shares, with more long-only accounts in the book as anchors
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◆ French govvie performance to support sentiment ◆ Recent French covered bonds spotted tighter ◆ Fair value considerations revealed
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Marex sponsor sell-down and Elixirr executive sale follow IPO of Applied Nutrition and Coca Cola's listing transfer
