Currencies
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The demand for duration reached fever pitch this week as Austria sold the longest dated eurozone government bond ever and a trio of other public sector borrowers printed their longest dated syndications to date. But that momentum towards length may have been halted by a shuddering sell-off in eurozone and other government bonds on Thursday.
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SNCF Réseau printed its first ever green bond on Thursday, becoming the first Eurozone railway company to sell a green bond. It was joined in the socially responsible investment market by a vaccine bond from IFFIm. -
SNCF Réseau, the French rail provider, made its green bond debut on Thursday, becoming the first railway agency in the eurozone to access the green market.
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Eurofima, Inter-American Development Bank and International Finance Corporation tapped their 10 year Kangaroo lines this week, raising a total A$180m ($136.8m), as Asian investors looked for yield from the Aussie market.
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Russia’s Domodedovo Airport will start meeting investors on Friday ahead of a planned five year dollar bond issue.
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SNCF Réseau will issue the first green bond ever from a European transport company on Thursday.
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A fourth issuer of the week has broken its record for longest dated syndication ever, while the European Financial Stability Facility wrapped up its 2016 needs with a trade that looked almost short end by comparison to the rest of the week’s euro supply.
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In the nascent market for special drawing rights (SDR) denominated bonds, known as Mulan bonds, Standard Chartered (StanChart) managed to increase onshore investor interest in the first deal by a commercial lender in China.
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Austria was richly rewarded for taking a leap into the unknown on Tuesday, as it took orders of over €7bn for the longest dated syndication ever from a core eurozone sovereign. KommuneKredit also broke its tenor record in euros, while the European Financial Stability Facility hired banks for a tap of a bond that looks short end by comparison.
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Spain has lopped €5bn off its 2016 funding programme and has applied to make a fourth early repayment of part of its loan from the European Stability Mechanism (ESM).
