Currencies
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Società per la Gestione di Attività (SGA), Italy’s bad loan management vehicle, is preparing to sell its first senior unsecured bond in the euro market. The company’s funding needs have risen amid a growing focus on cleaning up the Italian banking sector. -
CPPIB Capital and NRW.Bank brought well received 10 year euro green bonds on Monday, following the completion of their respective investor calls last week. Elsewhere, KfW has mandated for a euro benchmark in the five year part of the curve, having issued in the 10 year segment earlier in the month.
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Austria, Belgium and Greece went out with mandates for syndications at various parts of the euro curve on Monday, just a day before a crunch vote in the UK Parliament on amendments to prime minster Theresa May’s Brexit plan. But bankers said concerns around Brexit are limited and are no roadblock to sovereign issuance.
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Egypt is revamping its capital markets presence, lining up a debut in the green bond market, a first deal in an Asian currency, and dollar and euro benchmarks all by the end of its fiscal year in June.
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Turkey hit screens for a quick trip to the euro market to sell its second bond of the year on Thursday, and managed to slice 25bp from its yield.
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Hong Kong-listed Wharf Holdings, whose operations span property development and investment, is seeking a HK$8bn ($1bn) borrowing at tight levels.
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The socially responsible investment market in SSAs is picking up pace in 2019, with a supranational bringing a deal in a debut format and other issuers preparing inaugural trades.
