Currencies

Bank of Nova Scotia ended a six year absence from the senior segment of the Swiss market to print a 10 year bond on Monday.

KfW has had a strong start to 2021, raising over €50bn in the first six months of the year — around two thirds of its target. The agency will face new challenges in the latter half of the year, particularly in the form of the European Union’s colossal Next Generation funding programme. But treasurer Tim Armbruster, and head of capital markets Petra Wehlert are confident they can navigate the new landscape.

Banco Santander is out in the Australian dollar market with its debut Kangaroo bond, and with constructive conditions on offer, further supply could follow.

Shanghai Pudong Development Bank (SPDB) leaned on a large syndicate team to sell a dual-currency bond that was mainly bought by other Chinese banks.

Turkey was, yet again, at the fore of market participants’ minds on Tuesday. As inflation spikes, the country has indicated its intention to encourage more borrowing following a debt issuance spree in June.

France is preparing a 30 year OAT syndication, capitalising on a market that seems eager for paper that has snapped up an EFSF tap with an order book more than eight times subscribed.

LGT Bank, a private bank owned by the Princely House of Liechtenstein, priced its return to non-preferred format in under two hours on Monday, while managing to bump up the size and land inside fair value.

Kantonsspital Graubünden sold a successful debut bond on Thursday, surprising bankers as it slipped in before the summer break.

Macquarie sold its first group level bond in the Swiss franc market on Thursday, harnessing an “astonishing” number of investors to twice increase the size and land inside its euro curve.

Santander is preparing to make use of some attractive Australian dollar bond market conditions to sell the first bond from its new Kangaroo programme.

Credit Suisse has hired a new head of debt capital markets for Australia.

The Bank of Nova Scotia’s Chilean subsidiary turned to the Swiss franc for its debut international bond sale on Tuesday, achieving a cost of funding well inside what it could have achieved in the domestic market.