When the Federal Republic of Germany enters the capital markets for a syndicated foreign-currency deal you know the circumstances must be special. Past weeks were remarkable as Austria joined its neighbour: both returning to the dollar market for the first time in four years. A number of Europe’s frequent issuers took advantage of the substantial saving available from issuing in dollars and swapping back to euros.
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value of SSA issuance in first half of September |
“It has been a remarkable September.
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