Issuance is starting to resume after the summer break; however, this week a booming public market drew away investor and issuer attention from MTNs. Despite this, a range of established SSA, FIG and corporate borrowers have slipped in, with deals across core, niche and EM currencies.
In the sub-sovereign space, the Federal State of Hessen reopened its €250m June 2022 zero coupon bond on Wednesday to take the amount outstanding to €500m. UniCredit priced the reopening at 100.769.
On Tuesday, two supranationals tapped zero coupon EM currency bonds.
In South African rand,