BNP Paribas
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SNCF Réseau sold a dual tranche euro deal on Friday, its second benchmark of the year. The French agency is stepping up its benchmark activity in light of increased funding needs, according to a banker at one of the leads. -
The People’s Bank of China (PBoC) is likely to issue its planned onshore bond denominated in special drawing rights (SDR) as a multi-currency structured note, according to industry participants.
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If all asset classes that ECB touches turns to gold, this week the corporate bond market showed signs that they do not remain that way. The astonishing run of issuance is by no means over, but deals’ bookrunners are recording increasingly contradictory results, writes Ross Lancaster.
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A remarkable week for public sector dollar issuance could lead into an even more impressive spell, after the release of hawkish US Federal Reserve minutes moved the 10 year part of the curve tantalisingly close to borrowers’ grasps. Craig McGlashan reports.
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The European Financial Stability Facility is the biggest confirmed name for euro issuance next week, with a wide variety of trade options open to it, according to bankers.
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Bekaert, the Belgian maker of steel wire products, launched a €380m convertible bond on Thursday, happening to choose the same day as BP to launch its deal, after a long quiet period in the market.
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Financial institutions have been careful to plan trades around a busy flow of corporate supply in recent weeks and, with a healthy pipeline still in place, there is little sign of FIG fading.
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Caja Rural de Castilla-La Mancha this week issued the first Cédulas in more than two months and swept aside concerns that peripheral issuers would need to pay lavish new issue concessions.
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Long dated dollar issuance could be set for a return in the coming weeks, after minutes of the US Federal Reserve’s rate meeting in April — released on Wednesday night — showed a more hawkish sentiment than the market was expecting.
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Nederlandse Waterschapsbank showed the bid for duration in euros is alive and well, after a rapid book build on Thursday on its debut 20 year euro syndication, while a French agency lined up a dual tranche deal.
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Mitra Pinasthika Mustika Finance is poised to launch a $100m borrowing into syndication next week, with the Indonesian firm having mandated a trio of banks to arrange the deal.
