Currencies
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Instituto de Crédito Oficial (Ico) held investor calls on Tuesday ahead of its return to the social bond market to complete its funding needs for the year.
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The European Stability Mechanism has chosen a five year tenor to kick off its funding for the fourth quarter. Meanwhile, a French public sector agency is out with its debut sustainable benchmark bond.
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National Thermal Power Corp has sent out a request for proposals for an up to $300m-equivalent term loan.
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Investors jumped on the opportunity to buy euro bonds with a positive yield in the public sector market this week as KfW and Kommunalbanken sold 15 and 10 year bonds respectively, with the latter returning to the currency for a benchmark for the first time since 2017.
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Kommunalbanken was almost twice covered for its 10 year euro trade on Thursday as it returned for its first benchmark in the currency since 2017.
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The European Union returned to the MTN market for the first time since 2017 on Monday to finance the first of three €20m disbursements to Moldova.
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Switzerland’s largest private and commercial vehicle leasing company starred in an otherwise quiet market for Swiss franc issuance this week.
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China Construction Bank returned to the international bond market on Tuesday, turning to dollar and euro investors with two separately-executed deals worth a combined $1.551 billion.
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The European Bank for Reconstruction and Development and Ireland faced off in the euro green bond market on Thursday.
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Japanese Sumitomo Mitsui Financial Group (SMFG), the holding company for SMBC, returned to Australian dollars on Wednesday after two years away from the currency.
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The European Financial Stability Facility (EFSF) is preparing its first benchmark of the fourth quarter and Ireland has picked the banks to lead the first tap of its sovereign green bond.