Citi
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Broadcom printed the biggest corporate trade of the year so far as yield hungry investors snapped up triple-B rated names ahead of US president-elect Donald Trump’s inauguration next week. -
Auckland Council on Thursday pulled off a 7bp tightening for its first ever public deal in euros. The trade was joined in the market by paper from the City of Hamburg and Bpifrance Financement.
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As many as eight covered bonds were launched across three currencies this week, the vaguely discernible pattern suggesting better interest for the larger deals with intermediate maturities and particularly those from non-eurozone issuers where liquidity is most likely to be better.
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Israel reopened the CEEMEA bond market in style on Wednesday, placing a rare 20 year euro bond, part of a €2.25bn dual tranche offering, which enabled the issuer to tap into new investors.
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Adani Ports and Special Economic Zone continued the Indian issuer trend this week, grabbing $500m from international investors as Chinese borrowers wait until after the New Year holiday to hit the market.
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China’s Wisdom Education International Holdings hit the road on Thursday, opening books for its Hong Kong IPO that could raise up to HK$1.1bn ($147.0m).
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Corporates from Hong Kong, China and Singapore were clamouring for investors’ attention on Thursday for their respective offerings.
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The Republic of Korea is set to be the first Asian sovereign to sell bonds in the New Year, marketing a dollar-denominated 10 year on Thursday morning.
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Export Development Canada showed on Wednesday that despite some big deals this year in fives, there is still plenty of demand in the three year part of the dollar curve as it took the rare step of increasing a deal from its initial size target. The trade came as a trio of other dollar deals hit screens.
