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REAL ESTATE: Grand City (GYCGR: Baa1 neg / BBB+ neg): 7x Book

REAL ESTATE
  • Grand City have priced €500 5.5yr @ ms+195
  • Books > €3.6b
  • IPT was ms+235a; we saw FV +200a
  • The size of the books underlies the repricing that is happening in Real Estate
     

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