Currencies
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The Kingdom of Saudi Arabia has tightened guidance for its dual tranche debut in the euro market, offering a 10bp new issue premium for its eight year and a 5bp concession for its 20 year, according to a syndicate official away from the deal. Combined books are over €10bn, including €1.5bn of joint lead manager interest. -
Israel has returned to the market for a second time in 2019 to extend its euro curve by 20 years, placing its first ever 50 year note through a private placement.
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Saudi Arabia hit screens on Monday to announce its first ever euro benchmark — a dual tranche with eight year and 20 year tenors.
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Mexico showed that it still has full access to its regular funding markets this week as Japanese investors gave the sovereign its largest ever order book in the Samurai market, on the way to its largest deal in the currency.
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Well over Sfr1bn ($1bn) of Pfandbriefe and covered bonds was printed within three days this week, rounding off what bankers say turned out to be a surprisingly good first half of the year for the Swissie market.
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Agence Française de Développement (AFD)’s annual borrowing programme is expected to rise sharply in the coming years as a result of increased lending to developing countries.
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Credit Suisse Switzerland issued its debut covered bond from its newly structured programme on Wednesday, achieving a very solid outcome in a short time frame. And the Swiss franc-denominated covered bond was quickly followed by another from the UK’s Nationwide Building Society.
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United Asia Finance, a personal loan provider in Hong Kong, is seeking a HK$1.6bn ($205m) borrowing in syndication.
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Investors poured into Agence Francaise de Developpement (AFD)’s 10 year euro benchmark on Tuesday, allowing the French agency to issue its largest ever trade in the currency.
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Rentenbank failed to achieve subscription for its €500m 10 year trade on Tuesday, despite offering a positive yield and a maturity that has been labelled the ‘sweet spot’ in the euro public sector bond market.
