Dollars back in force after Chinese New Year shutdown

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By Craig McGlashan
12 Feb 2019

A strong start to the year for public sector dollar issuance is keeping up the pace so far this week, with last week’s slowdown during the Chinese New Year holidays only appearing to make investors hungrier. Both of Tuesday’s dollar deals were well oversubscribed — one spectacularly so — and there is a full card of issuers waiting to come on Wednesday.

The European Investment Bank has hired BNP Paribas, Citi and RBC Capital Markets to run a no-grow $3bn global benchmark on Wednesday. Initial price thoughts are 5bp area over mid-swaps. The trade will be EIB’s second dollar benchmark this year, following a $4bn five ...

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