Currencies
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No premium needed for $750m seven year sale
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Supra issuer aims to fund $15bn in the year from July 1 and remains committed to dollar benchmarks
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◆ Rare deal achieves 4.5 times subscription ratio ◆ Investors keen to buy German issuers ◆ Bankers hope German recovery will reopen wider European FIG market
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Issuer to stick to usual pattern with last syndicated benchmark of the year
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Renewable energy company sees four times demand for €500m no grow
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◆ Debut deal arrives two weeks after being mandated ◆ Anchored by a single order ◆ Small premium offered
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Issuer also benefits from improving market tone as ‘every day is a little better than the last’
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'Good timing' for the sovereign to return to dollars as euro market continues to wobble
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Issuer gets three times oversubscription in a trade that bankers said would hopefully ‘give people confidence’
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Higher rated DSM also has smooth ride, as corporate market continues to pump out solid trades
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◆ RBC opts for FRN despite ‘diminished investor appetite’ ◆ Favourable arbitrage for issuer ◆ FRN demand ‘always there’ for ‘higher rated issuer’
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◆ Small premium needed to reopen the market ◆ June supply approaches record low ◆ More deals set to follow