Sterling
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Issuer hopes to issue a $1bn three year bond ‘in the following days’
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Issuers and bankers debate whether pricing against swap rates will become the norm or remain an exception
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Vonovia and Traton attract whopping order books for their first deals in the currency, leading to hopes of more new issuers
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◆ Spanish bank parent takes out £600m at seven year maturity ◆ Deal comes at a premium to euros but broadens its diversification drive across markets, issuing entities ◆ UK lender OSB Group improves on senior debut
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Debut in sterling wins whopping £3.25bn final book
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Elia, EDP and Traton ease through a market desperate to invest
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◆ Second French bank deal in sterling in less than a week ◆ Issuer attracts £1bn-plus book due to lack of FIG supply in the currency ◆ OSB prepares senior return after September debut
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Issuers take in small concessions and big books, as bankers ask after long maturity trades
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More issuers have priced sterling bonds against swaps than Gilts so far this year
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Issuer lands $11bn demand for first dollar outing and sells biggest sterling SSA for two years
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Demand outlook 'optimistic' as supra brings fifth sterling benchmark for the market this week
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Issuer has already funded about 12% of its annual target in just three days