Citi
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The European Stability Mechanism priced its second ever dollar benchmark at a “fair” level of around 5bp over European Investment Bank’s September 2020, according to onlooking SSA bankers. Elsewhere in the dollar SSA market, Inter-American Development and NRW.Bank mandated banks for floating rate notes. -
Agrofert, the agricultural and industrial firm from Czechia, has entered the Schuldschein market in search of debt.
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High yield rated UK supermarket chain Tesco has launched a new bond with investment grade style features to fund tender offers for eight outstanding bonds, just days after a recent rating upgrade from Fitch Ratings.
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Investors could not get enough of Korea Expressway Corp’s (KEC) dollar bonds on Monday, as it closed its deal more than 12 times oversubscribed.
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Malaysia’s QSR Brands has filed for an IPO in Malaysia, years after the company mooted a relisting on the local bourse.
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British drinks manufacturer Diageo sold its largest euro corporate bond deal to date on Monday, when it sold a €2bn triple tranche deal. The proceeds are expected to be used to fund the share buy-back programme the company announced earlier in 2018.
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The European Stability Mechanism mandated banks on Monday for its second ever dollar benchmark, following the launch of its dollar programme last year. The supranational will likely issue a size of $3bn to complete its funding needs for the year, according to SSA bankers.
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Ireland this week added its name to the growing list of sovereign green bond issuers, achieving one of its main goals as it diversified its investor base. A debut French agency issuer joined the sovereign on Wednesday, printing its first ever deal — which also came from the first ever Green Euro Medium Term Note programme.
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A global equity sell-off mid-week caused some jitters among bankers covering a live Kommunalbanken dollar deal on Wednesday, but the nervousness proved unfounded as the trade came through to acclaim. The deal was typical in a week where SSAs priced tight and with big books despite choppy wider markets.
