SSA - All articles

  • CBA prints Australian banks’ first Swedish krona MTN

    Commonwealth Bank of Australia last week became the first Australian bank to sell an MTN denominated in Swedish krona. However, the likelihood of Australian banks doing more deals in the currency will depend on the basis swap between Swedish krona and US dollars, bankers said.

    • 31 Jan 2011
  • FROB success augments improved perception of Spain

    The Spanish success story continued this week with a well oversubscribed three year transaction from the Fund for Orderly Bank Restructuring (FROB), the state guaranteed agency established in June 2009 to recapitalise Spain’s banks.

    • 28 Jan 2011
  • EIB scoops record book for EARN comeback

    The European Investment Bank capitalised on the wave of positive sentiment towards European institutions to issue its most successful EARN ever in terms of book size. The Eu5bn three year attracted demand of over Eu16bn, easily outstripping the issuer’s previous record book of Eu11bn-Eu12bn logged in 2005.

    • 28 Jan 2011
  • EFSF powerplay pushes Portugal closer to the brink of bail-out

    THE EUROPEAN Financial Stability Facility hauled in a spectacular Eu44.5bn of orders for its long awaited inaugural bond this week, but its Eu5bn blockbuster failed to resuscitate peripheral European sovereign credits, particularly Portugal.

    • 28 Jan 2011
  • Renminbi bonds keep up pace with IFC and PCD Stores issues

    The offshore renminbi market continued its rapid expansion this week, as borrowers from opposite ends of the credit spectrum — supranational lender International Finance Corp and mainland department store operator PCD Stores — sold their own deals and more issuers lined up to tap the market.

    • 27 Jan 2011
  • Maturing Kangas make Aussie ‘no.3’ for SSAs

    Only the euro and US dollar markets now count more for supranational, sovereign and agency borrowers than Australian dollars, bankers claimed this week after monthly Kangaroo volumes broke records.

    • 21 Jan 2011
  • World Bank stars in hectic SSA dollar week

    Dollar investors displayed unparalleled enthusiasm for dollar product this week, absorbing $16.5bn of sovereign, supranational and agency supply without so much as a hiccup.

    • 21 Jan 2011
  • Indian PSU loan aggression could fuel dollar bond supply

    India’s state-owned companies have a well-deserved reputation for being among the most aggressive borrowers in Asia. But some market participants argue that increasing aggression from Indian companies is isolating loans bankers — and pushing Indian borrowers to other markets.

    • 20 Jan 2011
  • Investors dump Philippines’ long duration peso

    The Republic of the Philippines’ 25 year global peso bond plummeted in the secondary market this week. Investors dumped the paper after a fall in the currency and increasing fears over its long duration.

    • 20 Jan 2011
  • New APRA rules, Aussie safe haven status ensure strong Kangaroo kick-off to 2011

    New Australian Prudential Regulation Authority regulations released in December 2010 and last year’s strong market performance have combined to drive the Australian dollar market to a A$3.1bn week of issuance. Additional demand from domestic banks is also fuelling the market.

    • 14 Jan 2011
  • Bankers implore SSAs to head stateside

    As Network Rail and Bank Nederlandse Gemeenten (BNG) priced their inaugural and second 144A deals respectively, and KfW and EIB priced well received global deals, dealers said the US institutional investor base was becoming increasingly ripe for SSA borrowers.

    • 07 Jan 2011
  • Eurozone rescue off to a rousing start as EU blazes trail with Eu5bn

    After attracting more than Eu20bn of orders, the European Union’s Eu5bn blow-out this week has blazed a trail for the rest of the eurozone rescue package.

    • 07 Jan 2011
  • Philippines quick out of blocks with second global peso bond

    The Republic of the Philippines lived up to its reputation as a fast mover in Asia’s bond market this week when it once again became one of the first issuers to raise money at the start of a new year.

    • 06 Jan 2011
  • China still the talk of the market after its 2010 breakthrough as issuers line up

    China continued to dominate discussion among DCM bankers at the start of 2011, after a breakthrough year in 2010 that included both the rise of the offshore renminbi market and the growing importance of Chinese property companies for the high-yield market.

    • 06 Jan 2011