Euro
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All of Tuesday’s uncapped trades increase from their expected deal sizes -
In a world of abundant data, some companies are reading too much into one particular measure of bond execution success
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◆ Issuer ups size on one tranche ◆ ‘Exceptionally strong’ day for euros ◆ Bloc has much more to raise
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No let-up in demand as the third week of high issuance activity gets underway
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A busy pipeline is forming in the SSA market as the EU preps its next scheduled transaction
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◆ ECBC, ECB and US inflation put a stop to supply ◆ Issuers not missing out by not issuing in sub-par market ◆ Credit is the more appealing sector
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◆ Italian bank returns after years of calls but no replacements ◆ Tight pricing cemented on super-scarcity status ◆ Austria’s Bawag gearing to increase capital with new issue and tender
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Borrowers try to slide in before ECB meets on Thursday
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Volumes tipped to be down next week, with borrowers cramming into first three days
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◆ Debut deal spotted tighter in secondary ◆ Some investors keen to get lines in place for future issues ◆ Buyers fine with unusual structure
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Bank capital issuance spree set to run as investors lap up even lower credits
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Borrowers’ focus on how far a deal moves during bookbuilding leaves many baffled
