BMO Capital Markets
-
Pair follow bigger borrowers' lead in announcing dollar bond mandates -
Covered bonds attract big order books, resulting in large euro and dollar deals
-
-
Volatile debt markets continue to punish SSA issuers across the spectrum
-
Borrowers turn to defensive tactics after market deteriorates overnight
-
Spanish sub-investment grade deal fares better than triple-B rated Portuguese peer
-
SSA issuers in the dollar market will attempt to break out of three year maturity comfort zone
-
-
Investors plough into short dated tranches though longer deals are still possible
-
-
-
Best regarded issuers pushed to shorter tenors while lower rated names can go longer
