Currencies
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Volatility subsided amid a series of public holidays in Europe on Monday, raising hopes for a busier week of bank bond supply. -
HSBC raised A$500m ($388m) on its return to the Australian dollar bond market on Thursday, securing a "fantastic" result by offering a pick-up over local bank bonds.
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New Zealand has announced its new government bond programme will feature a 30 year syndication, extending its curve from 2041 to 2051.
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Two SSA issuers were expected to follow Tuesday’s outing in euros from the EU, but only one elected to brave the market on Wednesday.
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Large global systemically important banks (G-SIBs) showed the primary market was still in good shape on Monday, despite recent volatility. Bank of America added to a recent funding spree with a three-part euro deal, while Credit Suisse tested euros and sterling amid close scrutiny of its investment banking exposures.
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Île-de-France Mobilités, the state-owned authority for public transport in the Île-de-France region, is set to make its first trip to the green bond market. The borrower intends to use green bonds for around 60% of its financing needs until the end of 2025.
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BNP Paribas sold its first Samurai bond not to reset to Japanese Libor on Friday, ahead of the risk free rate's cessation later this year.
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Guarantor: Ontario Teachers’ Pension Plan Board
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Triple-B credit OC Oerlikon achieved a remarkable result on Monday, said bankers, as it issued a Sfr575m three tranche deal, which it will use to fund its acquisition of INglass. It was joined on screens by Pfandbriefbank's smallest deal since 2019.
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Market participants expect to see the end of “vanilla” deals in the European bank bond market, as tier two debt becomes the latest asset class to embrace call periods over call dates.
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Bart Van Dooren, head of funding and investor relations at Bank Nederlandse Gemeenten, will be retiring in January.
