Europe
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Uncertainty lifted for now but problems only kicked down the road -
The usual supply slowdown moves fast into sight but issuance windows remain open for next two weeks
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◆ Strong demand for senior bank debt at tight valuations ◆ Arkéa lures insurers seeking higher yielding investments ◆ NBG achieves 'blowout' for 4NC3 funding a tender
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Thirsty investors face up to prospects of primary market drought
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Issuer starts H2 benchmark funding on positive note, will focus on 'finetuning' in coming months
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New issue premiums were slim on the dollar bonds and euro tap, despite the huge combined size
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◆ Next extends sterling burst ◆ Order book pares back to £950m from £1.2bn ◆ Spread tightens by 20bp
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◆ NTT kicks off major transatlantic fundraise ◆ Investors pump €24bn into the books ◆ Bevy of banks on mandate enjoy the spoils
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Romania's sovereign bonds have enjoyed a rally after May's election
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Peugeot Invest sells remaining Spie shares at tight discount
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◆ Last euro non-preferred issued more than two years ago ◆ Debate on premium paid with leads spotting 'at least' a 5bp concession ◆ Final spread still a tight absolute level
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Dutch tech investor nets €750m euro bond ◆ Order book swells to €3.6bn ◆ Spread tightens by 30bp
