Currencies
-
◆ Second opco Kangaroo deal more than twice covered ◆ UK firm includes floating rate tranche for the first time ◆ Recent deals show the depth of the Aussie dollar -
Turbine customers see little debt market blowback despite potential for major operational disruption
-
‘Things didn’t add up’ for a tap until this week
-
◆ Lloyds prices first foreign subordinated debt in Singapore dollars since CS’s collapse ◆ Deal offers arbitrage versus G3 markets ◆ NatWest starts marketing senior Kangaroo
-
Fund manager says asset class is mispriced by over 100bp
-
First deal in a month is likely to test demand and price expectations at the five year point
-
Asian investors bought more than 40% of the deal following a recent roadshow
-
Riskier asset classes like high yield lose out as investors favour safer options
-
◆ Only 5bp needed to seal rare sterling senior pref deal ◆ Top quality orders fuel bumper book ◆ Illiquid secondary curve causes pricing conundrum
-
◆ Gabon gets it right second time ◆ FIG forgets it’s meant to be summer break ◆ AT1s complete their redemption arc
-
Busy week across products and currencies reduces chance of saturation
-
Both supply and demand are on the rise to support more long-dated paper
