Currencies
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Lloyds Banking Group has returned to the Aussie dollar market for the first time since May 2018, offering investors the chance to invest in two tranches of senior debt at the operating company level. The issuer follows a wave of European and UK financial institutions making their way down under. -
The state of Israel returned to the yen market for the first time in 18 years this week to raise ¥15bn ($140m) of seven year debt. The private placement marks the state’s third visit to the capital markets in 2019 and its first non-euro trade of the year.
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India’s plan to sell its first international bond has been caught in a battle of wills between the ministry of finance and the government. While any issuance is likely to be received well by the market, the sovereign should hold off on a deal until it is ready to present a united front to investors.
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The State of North Rhine Westphalia was flooded with demand for its 30 year euro benchmark this week as investors braced themselves for the European Central Bank’s meeting on Thursday, in which it laid down the groundwork for a rate cut in September and additional quantitative easing.
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As core markets in the northern hemisphere begin to cool, SSA issuers are looking towards an Australian dollar sector unaffected by the summer close.
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Caisse des Dépôts et Consignations has returned to the Samurai market with what the issuer and leads said was the lowest ever coupon in the format.
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The World Bank is targeting $50bn-$60bn of funding for its 2019/20 funding year, which began on July 1, and will keep busy during the summer.
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Chinese delivery services company SF Express is seeking a HK$5bn ($640m) syndicated loan to refinance a bridge facility used to support its acquisition of Deutsche Post DHL’s supply chain business in the Mainland.
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The State of North Rhine Westphalia was flooded with demand for its 30 year euro benchmark on Tuesday as investors braced for the European Central Bank's meeting on Thursday, in which it is expected to lay the groundwork for a rate cut in September.
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Czech energy distributor EP Infrastructure came to market on Tuesday morning for a seven year Reg S benchmark — its second ever bond. The bond had been announced on Monday as a dual tranche six year and 10 year.
