Currencies
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Standard Chartered Bank (Hong Kong) has unveiled the syndicate for its special drawing rights-denominated bond. -
Kommuninvest issued on Wednesday the largest ever green bond in Swedish kronor. The note offered a negative yield, and was still over 2.6 times subscribed. It was a fantastic example, the leads said, of a strong name issuing in a starved market.
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The World Bank on Tuesday sold its longest dated euro syndication and its biggest single issue in the currency in nearly three years, as SSA bankers hoped that other Washington DC-based supranationals could look at the currency.
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The Canton of Geneva has offered a 40 year bond to the Swiss market, the longest public sector, non-government bond ever in the Swiss market.
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Euro issuance this week is very much focused on long dated bonds, with Bank Nederlandse Gemeenten printing a 20 year syndication on Monday and other European agencies and sovereigns looking to tap the long end of the curve via auctions.
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Standard Chartered Bank (Hong Kong) has obtained approval from the People’s Bank of China (PBoC) to become the first commercial issuer of bonds denominated in Special Drawing Rights (SDR) in the country’s interbank bond market.
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Italy showed that not every investor’s fingers were burned by the sudden sell-off of its debut 50 year benchmark last week, as it printed its largest private placement in over 18 months on Monday.
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Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany
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A sell-off in eurozone government debt last week, over rumours that the European Central Bank might start tapering its quantitative easing programme, may have helped issuers bring more shorter dated deals in euros this week than have been possible for months — but some issuers are wary that more volatility could be ahead.
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Bawag PSK became the first bank to print a senior unsecured note offering a negative yield in Swiss market history this Wednesday. Swiss bankers wonder how the small A3 rated Austrian borrower managed to sneak into the record books.
