Citi
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Kommunalbanken will bring a dollar benchmark in a defensive tenor on Wednesday, which a banker on the deal said is the perfect product for investors amid rising geopolitical tensions. The trade also offers an attractive spread over US Treasuries, the banker added, despite a tightening in swap spreads — although other bankers said that tightening meant larger issuers should consider longer dated deals. -
Tajikistan has named two lead banks for its first ever bond, the proceeds of which will be used to partially fund a hydropower plant project.
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The Development Bank of Japan (DBJ) is set to go on the road to promote its third sustainability bond. Bank Nederlandse Gemeenten has also unveiled plans to return to SRI this year.
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The Indian government is off to a strong start with its biggest sell down in power producer NTPC, with the institutional portion of the Rp138.5bn ($2.2bn) trade nearly covered just half a day into bookbuilding.
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Korea’s Kookmin Bank is eyeing a return to the dollar bond market, meeting with investors this week to gauge interest in a senior deal.
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Indian lender Yes Bank has mandated four Taiwanese banks for its latest syndicated loan, a $200m five year. The firm is raising funds through its branch in Gujarat International Finance Tec-City (Gift City), India’s first international financial services centre.
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Two SSA borrowers printed dollar benchmarks on Wednesday, pulling off solid trades in spite of some investors put off by tight spreads.
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Public sector borrowers are mainly keeping to the short end of the dollar curve this week, but at least one top tier issuer is understood to be considering a 10 year dollar benchmark in the next few weeks.
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Nederlandse Waterschapsbank brought some supply to the sparse long end of the SRI market on Tuesday, printing a trade that alongside Rentenbank was part of a strong re-emergence of euro supply after the summer.
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Hyundai Capital Services shook off North Korea-related worries to hit the bond market at the start of the week, managing to reach its goal of $900m across two tranches.
