Currencies
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◆ Singaporean bank has not issued since 2018 ◆ Deal to price close to recent Singaporean three year supply -
◆ Pricing above 8% confused rival bankers who put fair value in high 7% ◆ Large size deemed motivator for the trade ◆ Likely refi of $2.75bn in AT1 calls later this year
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◆ Five year trade among the tightest this year ◆ Small single digit premium needed to seal the deal ◆ Investors came in after pricing despite the tight spread
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The Saudi wealth fund and sovereign have issued tens of billions of dollar bonds in the last two years
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Subdued SSA dollar market is also getting a boost
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Swiss investors rediscover appetite for short-dated corporate paper
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◆ Danish bank dodges rates volatility and price sensitivity to print with large book ◆ London-based accounts show big interest ◆ Funding ahead to take advantage of favourable market
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Sovereign to further its commitment to euro commercial paper
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‘A number of milestones’ achieved from rare long-dated green issuance
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Issuer is open to look at dollar deals or euros again, and may debut in public Aussie and sterling markets
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Deal pipeline quietly building in undersupplied market
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Corporates kept pricing dollar deals this week despite equity market volatility, while analysts warned of a reduction in supply
