Sterling
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Toronto-Dominion Bank has refreshed its senior unsecured debt profile in sterling. The £1bn trade inserts a foreign name in the UK market after NatWest Group re-opened it last week, four weeks after it closed abruptly following the Russian invasion of Ukraine on February 24.
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Issuer forced to be content with minimum size planned priced in line with guidance
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A larger deal was possible, but the building society didn’t need the funding
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NatWest re-opens unsecured sterling market with a well-received deal but imminent issuance questioned as Standard Chartered chooses dollars
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Issuer braves soaring inflation print and government spending statement
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Pent-up sterling demand helps NatWest draw £2bn book in first unsecured FIG deal since Ukraine invasion
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French lender paid a double digit premium to get its £450m deal over the line
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Issuers desperate to push deals through amid gloomy market forecast
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Issuer sidesteps macro noise to print with yield a fraction higher than two year Gilt
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Issuers stick to short maturities with rate rise expected on Thursday
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French agency sells inaugural sterling bond amid roaring short end demand
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Consent solicitations have allowed borrowers to convert reset rates from Libor to Sonia