BMO Capital Markets
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The European Bank for Reconstruction and Development has hit screens with its debut trade linked to the secure overnight financing rate (Sofr), with the issuer the third in quick succession to mirror the coupon technique found in the Sonia bond market. -
The dollar SSA market was ablaze on Tuesday, with five deals on screen offering small new issue premiums and gaining chunky demand across the maturity curve.
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Land NRW and Nederlandse Waterschapsbank mandated for dollars on Monday, kickstarting the market again after a fortnight of blank screens in the currency.
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The US corporate bond market continued to crank out investment grade deals despite fears of a global recession battering risk assets this week.
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Rentenbank and Inter-American Development Bank hit the market for small taps of existing dollar debt on Tuesday, though some investors’ attentions are focused on this week’s US Federal Reserve meeting.
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Rentenbank and Inter-American Development Bank hit the market for small taps of existing dollar debt on Tuesday, dipping into the market before the US Federal Reserve cut rates for the first time since the financial crisis.
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Bank of Montreal offered dollar investors a very rare chance to buy Canadian additional tier one paper this week, having spied an opening for a tightly priced deal.
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NRW.Bank had the dollar market to itself this week, and issuance is expected to continue trickling next week with Ontario Teachers’ Finance Trust poised with a trade.
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NRW.Bank is taking indications of interest on a five year benchmark trade, though syndicate bankers still expect there to be a fizzle rather than a bang of SSA dollar issuance this week.
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A trio of supranational and agency names headed out into niche currencies this week, as other SSA names say non-core currencies will be their focus for the rest of the year.
