Currencies
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Kommunalbanken is tapping its April 2023 Kangaroo line, the first time it has accessed the Aussie mid-curve since September 2017, amid what bankers said were strong conditions for the currency. -
Italian electricity supplier Enel sold its second green bond on Tuesday, repeating the timing of its first such offering in 2017, which it also sold in the second week of the year. The latest deal was the same size, but priced tighter and won a larger order book, despite printing with a longer maturity.
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The world's largest brewer Anheuser-Busch InBev’s last visit to the euro bond market was to help finance its $107bn acquisition of SAB Miller in 2016 and on Tuesday the issuer returned with a smaller offering that investors were still thirsty for.
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The United Mexican States has released price guidance on its first euro bond for over a year.
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French telecoms operator Orange sold a new 12 year trade on Tuesday and paid a low new issue premium for the €1bn deal. The deal was one of three that priced on Tuesday, but only seven new issues for the year so far, meaning investors are keen to put their money to work.
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KfW and Dexia Crédit Local are first out the blocks in what looks set to be a busy euro market for public sector borrowers this week.
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Asian Development Bank's minimum NZ$200m ($143.6m) five year Kauri bond has grown to NZ$350m, with books still open until Tuesday.
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Vonovia, Germany’s largest housing association, may have sold the primary market's only investment grade corporate bond on Monday but as its order books showed, conditions remain very receptive for issuance.
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PSP Swiss Property, rated A- by Fitch, tapped its April 2026 Swiss franc bond last Friday, opening the market for corporate issuance in 2018. The deal doubled the bond's size to Sfr200m ($204.93m).
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With a new climate awareness bond from the European Investment Bank and the announcements of green taps from EIB and Rentenbank, it was a busy week of sustainable bond issuance in the Australian dollar market.
