Sub-Sovereigns - All Articles

  • Ontario wakes sleeping dollar market

    The Province of Ontario broke the silence in dollar benchmark issuance this week, mandating for a five year deal on Tuesday. Other borrowers are avoiding dollars this week due to holidays in Asia, but Ontario can rely on its strong following in the Americas to push it through, said bankers.

    • 31 Jan 2017
  • Land NRW lines up sustainability bond

    The State of North Rhine-Westphalia announced on Monday that it will hold a roadshow for its third sustainability bond.

    • 30 Jan 2017
  • Small borrowers to take chance in quiet market

    A few of Europe's smaller borrowers are trying their luck now that the storm of issuance that thronged markets through most of January has abated.

    • 30 Jan 2017
  • Spanish communities opting to raise their own funds

    The Principality of Asturias has become the latest Spanish region to issue bonds, rather than accepting loans from Spain's regional liquidity fund, the FLA.

    • 26 Jan 2017
  • Euros burning brightly in red hot SSA market

    Deal after deal has hit screens in euros this week as issuers from all across the public sector spectrum printed in maturities from five to 30 years.

    • 25 Jan 2017
  • First bond issue on blockchain for QTC

    Queensland Treasury Corp ran a prototype bond auction on Commonwealth Bank of Australia’s blockchain platform, the bank said on Tuesday. QTC generated a bond tender, viewed investor bids in real time, finalised investment allocation and settled the dummy issue instantly — although it was on both sides of the deal, as sole issuer and investor.

    • 25 Jan 2017
  • SSAs devour demand in belly of dollar curve

    Public sector borrowers are staying focused on the belly of the dollar curve, with a pair of issuers lined up for Wednesday. Demand at that part of the curve shows no sign of letting up, with two issuers out in fives on Tuesday — one of which was able to increase the size of its issue from its initial target.

    • 24 Jan 2017
  • Spain scores size at 10s

    The Spanish sovereign launched a €9bn 10 year on Tuesday, bringing the largest eurozone sovereign syndication so far this year.

    • 24 Jan 2017
  • NIB and Quebec join dollar fives party

    The Nordic Investment Bank and Province of Quebec are set to hit the five year part of the dollar curve on Tuesday, a trade that has returned some bumper deals for public sector borrowers so far in 2017.

    • 23 Jan 2017
  • Borrowers crowd into euros as EIB aims for long end

    The pipeline for euro issuance is filling up once again as the European Investment Bank looks to raise funds at 10 years, although a deal from KfW on Tuesday appeared to struggle to reach €1bn.

    • 17 Jan 2017
  • Madrid grabs long euros with private placement

    The Autonomous Community of Madrid has hit the long end of the curve with a 20 year private placement for its first deal of 2017.

    • 16 Jan 2017
  • Auckland screams in with debut euro syndication

    Auckland Council on Thursday pulled off a 7bp tightening for its first ever public deal in euros. The trade was joined in the market by paper from the City of Hamburg and Bpifrance Financement.

    • 12 Jan 2017
  • Dollar and euro angst opens space for non-core bond plays

    For public sector bond issuers, 2017 will be a year to hunt down arbitrage plays. Political uncertaintly looks set to rock core currency markets, leaving non-core markets to offer useful funding havens, writes Silas Brown.

    • 01 Jan 2017