SSA - All articles

  • Treasury rally and ‘Volcker rule’ put skids under SSA dollar rush

    Expected heavy further dollar supply from sovereign, supranational and agency issuers failed to materialise this week in the face of a rallying Treasury market and nervousness sparked by plans to limit the size and scope of financial institutions mooted by Paul Volcker, the head of President Obama’s Economic Recovery Advisory Board.

    • 29 Jan 2010
  • Greece fingers hedge funds after ‘perfect’ trade buried

    Greek finance officials hit back this week after the country priced a much larger-than-expected bond at a slimmer-than-expected spread, with an outsize order book — only to see the bonds dive in secondary trading and its future market access again in the spotlight.

    • 29 Jan 2010
  • Asian bookrunners comments - January 29, 2010

    • 28 Jan 2010
  • Greece ready to issue euros as spreads widen

    The Hellenic Republic is poised to issue a five or 10 year Greek Government Bond (GGB) next week or the week after, EuroWeek understands — its first public syndication since its latest round of downgrades from Moody’s, Standard & Poor’s and Fitch. It hopes it will put a damper on the rumours and counter-rumours swirling around the credit as the country proves it has access to financing.

    • 22 Jan 2010
  • DSTA promises safe haven, liquid curve in 10 year plan

    The Dutch State Treasury Agency (DSTA) will launch a new 10 year Dutch State Loan (DSL) for at least Eu5bn on February 2 via Dutch Direct Auction (DDA). The deal, which will mature on July 15 2020, will be reopened during the year until it reaches Eu15bn, which Niek Nahuis, deputy agent of the DSTA, told EuroWeek underlines the Netherlands’ commitment to offering investors a complete liquid curve.

    • 22 Jan 2010
  • KfW leads charge in week of dollar delights

    KfW made a stunning call on the dollar market this week, picking optimal timing for a new 10 year benchmark as investors ventured down the curve to enhance yield.

    • 22 Jan 2010
  • Investors warm to rare Vietnam dollar global

    The Socialist Republic of Vietnam looked set to beat its price target on a rare sovereign bond as EuroWeek went to press on Thursday after investors said they would support the deal at a yield of 7%.

    • 21 Jan 2010
  • Rare Manitoba shines in dollars

    The Province of Manitoba issued a gem of a global bond this week in an otherwise subdued dollar market — a $600m three year which attracted over $2bn of demand.

    • 15 Jan 2010
  • Slim premiums show Eu40bn euro sovereigns still in control

    A stunning week of issuance for European sovereigns and agencies — which raised over Eu40bn in the bond markets — was overshadowed somewhat as sentiment towards Greek sovereign debt took another turn for the worse.

    • 15 Jan 2010
  • Philippines eyes Samurai after dollar success

    The Republic of the Philippines is planning to raise at least $500m in the Samurai bond market, joining a growing list of emerging market sovereigns looking to sell bonds in Japan’s domestic market this year.

    • 14 Jan 2010
  • Philippines to target offshore workers in latest bond sale

    The Republic of the Philippines is planning to sell a foreign currency bond exclusively to its own citizens, taking advantage of the billions of dollars of savings earned by Filipino workers abroad.

    • 14 Jan 2010
  • Indonesia ditches long bond dream but 10yr proves a hit

    The Republic of Indonesia raised $2bn in the global bond market this week, overcoming muddled marketing and the cancellation of a longer-dated tranche to launch a tightly-priced 10 year deal that performed well.

    • 14 Jan 2010
  • Republic of Indonesia

    • 14 Jan 2010
  • Canada aces 10s as rarity trumps price

    Canada sold its debut euro bonds this week, creating a storm of buying that allowed it to price through heavyweight European governments and giving the 10 year sovereign sector a lift ahead of a strong issuance calendar.

    • 08 Jan 2010
  • Belgium, KfW in the wings as euro draws duration seekers

    The euro market proved to be more receptive in the first week of the year for SSAs than its dollar counterpart, especially for those issuers seeking duration. While dollar issuers found the book building process to be sluggish, those taking the euro route found a ready audience for their transactions.

    • 08 Jan 2010
  • SSAs tackle surprise dollar challenge as GSEs get lifeline, Treasury yields rise

    European supranationals and agencies issued $10.5bn into the dollar market this week but found the process more challenging than expected. The big oversubscriptions that greeted issues during the first days and weeks of 2009 did not materialise and the book building process was described by bankers and issuers alike as sluggish.

    • 08 Jan 2010
  • Indonesia readies global as sovereigns line up

    The Republic of Indonesia is set to announce a global bond before the end of January as Asia’s sovereigns queue up to tap the booming international debt markets.

    • 07 Jan 2010
  • Republic of the Philippines

    • 07 Jan 2010
  • Philippines opens floodgates with $1.5bn double bond tap

    The Republic of the Philippines returned to the international bond markets this week in customary style, increasing a pair of existing bonds by $1.5bn and paving the way for a spate of hotly anticipated sovereign issues.

    • 07 Jan 2010