Sterling
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◆ Issuer takes £750m with first deal since 2021 ◆ Trade the joint tightest three year deal of 2024 ◆ Small premium paid -
◆ UK lender takes £500m ◆ Deal land single digits back of recent supply ◆ No-grow size supported demand
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Public markets have proven to be often just as illiquid, leading to a convergence in approach
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◆ DMO completes hefty chunk of syndication target ◆ Record size, record book ◆ Demand for 15 year 'encompasses a broad range of investors'
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Hybrid from Snam and sustainability from Welsh Water
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◆ Crédit Agricole brings subordinated sterling deal ◆ Sabadell mandates a sterling debut ◆ Investors 'starved' by 'unwilling' issuers
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Other incoming new issues include a niche social bond in sterling
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◆ First £1bn deal since June ◆ Demand shows investors are interested in UK names ◆ Small premium needed on 'incredibly flat' curve
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Issuance tipped to top the €15bn-equivalent sold in the last four days
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◆ US insurer’s very rare deal prompted by improved cross-currency relative value ◆ First unsecured and covered sterling deal since June… ◆ …increases hopes for more to come
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Slide away: downward sloping gilt curve drives up shorter spreads
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Central American supra has cut interest rates on loans to its members as it has gradually reduced its own cost of funding
