Currencies
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New deals marketed this week by US borrowers Owens-Illinois and Federal-Mogul pushed reverse Yankee issuance to 25% of the €22bn of euro high yield issuance so far in 2017. -
The International Finance Corp could use the Kangaroo market to expand its burgeoning green bond programme.
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Argentina returned to the Swiss market for the first time in nearly 20 years on Thursday to print a Sfr400m ($403m) three and a half year bond.
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The European Investment Bank and KfW on Wednesday tapped the long end amid an otherwise quiet euro market.
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SNCF Réseau on Wednesday printed at the upper end of its size expectations with its second ever green bond, while the International Finance Corporation looked at the possibility of printing in the green format over the next three months.
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Japanese investors on the hunt for European SSA credit drove a flurry of long dated Australian dollar deals on Wednesday.
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Huarong Investment Stock Corp is in the market for a HK$3bn ($386m) dual currency syndicated term loan with Credit Suisse at the helm.
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The socially responsible bond pipeline ballooned on Tuesday, with a European supranational announcing a roadshow for a debut issue, a French agency mandating for a deal and a Washington supranational pricing a social bond in benchmark size for the first time.
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Unédic launched a 10 year benchmark on Tuesday. The deal came in the wake of a televised debate between the French presidential candidates that appeared to restore investors’ confidence in French names, according to an SSA syndicate banker at one of the leads.
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The Netherlands' Achmea Bank is looking to raise funds in the Swiss franc bond market in the near future, having mandated three banks to take it on a roadshow next week.
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Hong Kong-listed Fortune Real Estate Investment Trust has tied up a HK$1.2bn ($154m) syndicated loan arranged by Sumitomo Mitsui Banking Corp.
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Buoyed by relief following a Dutch election in which Eurosceptic Geert Wilders’ hopes of forming a government were dashed, public sector borrowers are flocking back to capital markets.
