Latest sovereign news

• Hungary aims for Rmb1bn in Panda debut

  

  The Eastern European sovereign agreed on a Rmb3bn ($445m) Panda programme with onshore authorities and is set to price a first three year deal worth Rmb1bn.

  • 09:00 AM

• Premiums ‘thing of the past’ for dollar SSAs

  

  Public sector issuers are enjoying a rare time in dollars, with a lack of supply and strong demand allowing tightly priced short end deals — leading one syndicate official to respond to a question on pricing concessions with: “New issue what?” But hopes of longer end issuance appear dashed as US yields fall as quickly as expectations that US president Donald Trump will deliver on his pro-growth policies.

  • 20 Jul 2017

• Sweden goes tight in dollars as Alberta lines up

  

  Sweden on Tuesday printed a dollar benchmark at one of the tightest spreads to mid-swaps from a public sector issuer this year, as a Canadian province prepared to bring a deal in the currency further out the curve.

  • 18 Jul 2017

• British Columbia, Hungary line up Pandas

  

  British Columbia has hired Bank of China (BOC) for its second Panda deal, GlobalRMB has learned. Meanwhile, Hungary has chosen BOC and HSBC for a long-awaited Panda debut with a prospectus expected on Friday.

  • 18 Jul 2017

• Sweden and Land NRW bring dollar supply to hungry investors

  

  A pair of public sector issuers look set to benefit from supply-starved dollar investors, after mandating on Monday for deals at the very short end of the curve.

  • 17 Jul 2017

• Secondary pricing update: featuring the UK's linker tap

  Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

  • 14 Jul 2017

• EFSF to enter hot euro market, Greece too?

  

  The European Financial Stability Facility is set to enjoy enviable conditions when it comes to the euro market next week — during which the Greek sovereign could also make an appearance. Demand at the long end has been particularly strong due to a yield spike last week, which KfW and SCNF Réseau have since taken advantage of.

  • 13 Jul 2017

• UK breaks records again with super smooth linker

  

  The UK Debt Management Office broke yet another record on Tuesday, building its largest ever book in cash terms for an inflation-linked syndication. The demand was such that the bond then tightened in secondary to move past the fair value level at the book open, said one of the leads.

  • 13 Jul 2017

• South Africa to launch $2bn Eurobond after summer

  

  South Africa’s National Treasury is meeting with its nine primary banks on Friday to discuss its 2017 Eurobond issuance, according to its senior analyst Alilali Nelufule.

  • 13 Jul 2017

• Savvy Indonesia grabs $3bn, keeps global investors keen

  

  The Republic of Indonesia sold one of its classic blockbuster deals this week, raising more than $3bn from a three-tranche bond in euros and dollars. The transaction was a mix of self-promotion and opportunism — and further cements the country’s reputation as one of the savviest issuers in the region, writes Morgan Davis.

  • 13 Jul 2017

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