Morgan Stanley
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‘All stars aligned’ for the sovereign to serve up third deal of 2024 -
Banker was last a managing partner at Deloitte
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At least a dozen SSAs are set to price deals on Wednesday
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Issuer plans ‘one liquid benchmark every year’ and to frequent a market providing ‘value’ and ‘flexibility’
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Issuer ‘reaping the fruits’ of investor work with large book and tightening
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US bank hit by third DCM departure
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Leads saw no new issue premium paid by the issuer after 3bp of tightening
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◆ Money centre banks drive $25bn-plus three-day issuance rush ◆ Goldman first refinances capital with new, cheaper deal and then returns for senior funding ◆ RBC debuts its most subordinated debt in US dollars
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Issuers ‘strike while the iron is hot’
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At least four issuers will price dollar deals of between three and 10 years on Tuesday
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Bpifrance and CEB both take €1.25bn while Kommunekredit returns to sterling
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One banker judged the sovereign to have landed 5bp-10bp through its euro curve
