UK
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£900m equity raise plans come as Southern tries to save its investment grade rating -
Company is evaluating equity bids
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Issuer slips a notch as debt to regulatory capital metric worsens
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Deal replaces facility due to mature next year
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Other markets overshadow labelled public sector issuance in sterling
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Choice of 10 year tenor key to success, says DMO
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◆ Deal is TSB’s second in euros ◆ Minimal concession paid ◆ Bond offers single digit spread over UK peers
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◆ Record book and deal size ◆ Investor demand 'at odds' with media headlines ◆ Key BoE actor clears up position
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◆ Issuer initially targeted price over size but achieved both ◆ Makes sterling debuts look easy ◆ Positioning for UK membership?
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◆ Three big SSA syndications scheduled for Tuesday ◆ EU and Italy on the same day, again ◆ UK to bring second to last syndication this FY
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UK lender aiming to position itself close to peers in euros
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The loan was provided by 18 financial institutions, including the new ones that joined
