Banks
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Austria took centre stage in the euro sovereign bond market this week with the sale of its first ever four year benchmark alongside a new 50 year deal to complete its curve. -
Switzerland's cantonal banks enjoyed an open window this week thanks to Pfandbriefzentrale's extended stint away from the market. Elsewhere, the Canton of Zurich was able to harness the lack of sub-sovereign supply to land at an aggressive level versus govvies.
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Banks are optimistic that sustainability-linked bonds have a bright future as part of their funding toolkits, after Berlin Hyp became the first financial institution to land a deal in the format this week. More trades are already on the way and market participants are stepping up their efforts to break down the remaining barriers for FIG borrowers.
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Royal Schiphol, the Dutch airport, sold €1bn of debt on Thursday, as highly rated names found solid support in the European corporate bond market.
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Norwegian krone SSA supply is outpacing Swedish kronor so far this year, driven in part by a demand for zero risk weighted assets in the market. Among the latest names to access the Norwegian market is the African Development Bank, which sold a new social bond as part of a dual-currency issue.
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Royal Schiphol, the Dutch airport, sold €1bn of debt on Thursday, as highly rated names continue to find solid support in the European corporate bond market.
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The relentless flow of special purpose acquisition companies coming to the market is causing unease among investors about market saturation, with $140bn raised so far this year. Only the highest quality sponsors are likely to succeed in bringing new Spacs to IPO from now on, writes Aidan Gregory.
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New Zealand could become the first country to make climate reporting obligatory for financial firms, after lawmakers passed an amendment on Thursday requiring them to disclose climate change risks.
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Italian asset manager Anima Holding sold €300m of senior debt against a quiet backdrop this week, having decided to target the popular seven year tenor.
