Euro
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◆ Third SSA in a week gets low demand ◆ Starting level 'seemed good approach' but fails to draw appetite ◆ Coupon level gives hope in secondary trading
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◆ Investors wary of French risk ◆ Book grows after spread was set ◆ High single digit premium needed
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◆ Reinsurer latest in string of insurance tier two offerings ◆ French insurance sector seen as more resilient than banks ◆ Slim concession needed
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Loan bankers say deals are being delayed and auto sector can expect restructurings
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◆ John Deere opens window for more Reverse Yankees ◆ Reverse Yankee volume up 15% year on year ◆ New issue concessions rise as books prove resilient
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◆ Investors check in to popular InterContinental Hotels deal ◆ Single digit concession needed for Heimstaden green bond ◆ Euro corporate premiums rise as attrition slows
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◆ Investors pledge strong demand for 'exotic' deal ◆ Slim premium paid ◆ UBS takes €1bn at five years
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Spate of hybrid capital issues at record tights over senior debt will not endure
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Slim premiums and big price tightenings achieved
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◆ A 'busy and interesting' session as duration arrives ◆ New issue premium varied by tranche ◆ Longer note likely attracted different investors
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Lenders could look elsewhere for export credit agreement guarantees as French confidence vote looms
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◆ TD prints largest euro deal for a year ◆ Strong demand for rare three year notes ◆ Minimal premia needed