ADB lands flat to guidance as volatility hits euro market

Addison Gong

February 25, 2025 06:34 pm

◆ New 10 year priced without tightening ◆ NIP squashed by swap spread moves ◆ ‘High quality book’ nevertheless

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request a Free Trial or Login

Topics

Supras and agencies SSA Asian Development Bank ADB Euro BNP Paribas JP Morgan NatWest Markets UBS

AG

Addison Gong

SSA editor GlobalCapital

Related articles

SSA

IDA goes for 'unusual' 25 year and prints upper end of target size

◆ Pricing comes significantly through EU ◆ 'Surprising' French interest in book ◆ Fast money deterred by odd tenor

Sarah Ainsworth, October 22, 2025
Senior Debt

Bank of America surprises with €2.75bn dual trancher

◆ Second 'chunky' US bank euro print in a week ◆ Deal lands close to fair value ◆ But longer, fixed rate tranche raises questions as it is spotted wider in grey market

Atanas Dinov, October 22, 2025
Sub-sovereigns

Lower Saxony pays ‘quite good’ spread over KfW for big size

◆ German state takes €1.5bn ◆ Seven year demand question answered ◆ Small spread paid versus theoretical new KfW line

Addison Gong, October 22, 2025
High grade and crossover bonds

BAT lights up market with seven times covered hybrid

◆ UK tobacco company sells larger than expected €1.2bn dual trancher ◆ Final demand strong despite tighter yields ◆ Sub/senior gap set in the low-100bp area

Diana Bui, October 22, 2025
Senior Debt

NordLB extends senior curve with five year bullet

◆ First senior preferred in two years ◆ 3bp of concession ◆ Senior spreads 'really tight' versus covered bonds

Flynn Nicholls, October 22, 2025
Supras and agencies

Finnvera squeezes spread to sovereign in latest euro outing

◆ Book one of the issuer’s largest ◆ ‘A good trade’ at 19bp over swaps ◆ Tight spread to Finnish govvies

Addison Gong, October 22, 2025