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Remember jumbos? Those enormous, highly liquid bonds that would set a benchmark for years to come? In 1989 the first global bond, issued by the World Bank, was an earth-shattering $1.5 billion. Now big deals have become so commonplace that the word jumbo seems to have fallen into disuse. “This year we will see a few borrowers pushing the envelope in terms of size,” predicts Niall Cameron, global head of fixed-income syndicate at ABN Amro. |
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