France
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Issuer offers to exchange hybrid rather than not call it, but some say it's just kicking the can down the road -
◆ Demand for Commerzbank deal less than expected ◆ 6bp-7bp of premium needed ◆ Senior unsecured supply glut eats up covered demand
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Longer funding offers issuers efficient use of collateral that's worth paying for
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Demand swells for both deals as investors snap up undersupplied green paper
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UK building society wades into buoyant FRN market to score €500m print
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The deal paid a substantial pick-up to recent 10 year Pfandbriefe
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Issuers grab window before S&P announces its June outcome, and investors show up in primary markets
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Banks received reverse interest for illiquid stock
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Pre-summer flurry sees multi-tranche and SLB deals mandated for this week
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Berlin Hyp was only just subscribed; RBI could not tighten pricing
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Size and rarity ensured better results for Hamburger Sparkasse and Vorarlberg, despite the EU absorbing demand
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French government bonds sell off across the board after negative news but European peers also suffered on weak morning
