Currencies
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Santander effectively opened the Swiss market for senior non-preferred notes on Tuesday. The Spanish bank debut offer attracted Sfr400m ($411.4m) worth of interest –– encouraging for a market looking for future TLAC issuance.
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The Export-Import Bank of Korea (Kexim) offered European investors a rare euro deal from a Korean credit on Monday, securing a solid trade despite a tense political backdrop.
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International consumer finance company Home Credit Group is syndicating a slice of its €500m fundraising to Asian banks.
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The Export-Import Bank of Korea (Kexim) priced a five year euro benchmark on Monday, nipping in with a one day execution ahead of a trio of deals scheduled for Tuesday.
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S&P has raised Indonesia’s long-term sovereign credit rating to BBB- from BB+ with a stable outlook, on the back of reduced risks to the country’s fiscal metrics. Seven corporates were also upgraded by the agency last Friday.
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This week's funding scorecard looks at the progress French agencies have made in their funding programmes this year.
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The week commencing May 8 brought a wave of public sector borrowing. The victory of Emmanuel Macron in the French presidential election caused a wave of relief and signalled a blazing green light for issuance. See how the deals fared on GC BondMarker.
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Guarantor: Swedish local government members
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The European Financial Stability Facility blindsided investors this week, printing €6bn of 16 year paper despite having completed its second quarter funding requirements, stretching the tolerance of its €10.8bn book in the opinion of some onlookers.