Citi
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Citi China has made two internal promotions in its markets and securities services business division, according to a Friday press release. -
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One of the biggest snowstorms to hit Ottawa in years could not stop Export Development Canada printing its largest ever deal this week, alongside a record three year book for the European Investment Bank (EIB) and a very healthy Bank of England (BoE) dollar deal.
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The Netherlands Development Finance Company (FMO) is looking to sell its first social bond this year following its inaugural green trade this week. The agency is also keeping a close watch on the Sofr market.
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The European Financial Stability Facility (EFSF) and Agence Française de Développement (AFD) became the latest issuers to enjoy a strong euro market this week, and there is more supply to come.
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Credit Bank of Moscow printed a €500m five year bond on Tuesday, taking advantage of positive sentiment towards Russian bonds that existed early in the week before new talk of fresh US sanctions on Russia later dented enthusiasm for the country’s credit.
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The US corporate new issuance calendar took a breather on Thursday after clocking up its busiest week of the year with $30bn of supply in just three days. Borrowers remained on the sidelines as investors digested the supply onslaught that brought bulging order books and tight pricing.
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Uzbekistan opened a new chapter in emerging market bonds on Wednesday, printing a $1bn dual tranche deal. Market participants are expecting a swathe of other issuers from the country to follow the sovereign into the capital markets, although soggy trading on Thursday has stiffened investor resolve to hold firmer on pricing on subsequent Uzbek deals, writes Francesca Young.
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Uzbekistan printed its $1bn dual tranche five and 10 year bond on Wednesday to great investor excitement, but the bubble was punctured on Thursday when both traded down in the secondary market. That was despite orders as big as $300m from one international EM account, according to Uzbekistan’s deputy prime minister and finance minister, Jamshid Kuchkarov.
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Hong Kong’s Airport Authority (HKAA) raised $500m from a dollar bond sale on Wednesday, ending a hiatus of nearly 16 years from the market.
