Deutsche Bank
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Guarantor: Federal State of North Rhine-Westphalia
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The Republic of Indonesia veered off its usual funding plan by heading into the bond market this week with a dollar-euro combination trade, at a time when it is feeling the brunt of a big spike in Covid-19 cases. But the stability in secondary market trading and a fall in US Treasuries offered the sovereign an opportunity to top up its coffers, writes Morgan Davis. -
The SSA bond market is playing host to three SRI labelled deals in euros this week, with no conventional debt slated for issuance at all so far.
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NatWest Markets has hired UK rates trader James Bucknall from Deutsche Bank, where he was head of sterling trading.
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Adani Electricity Mumbai used a sustainability-linked bond to raise $300m, as the energy company transitions to more renewable power.
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Five real estate companies from Greater China made their way into the dollar bond market on Thursday, appealing to investors with short tenors and juicy new issue premiums.
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Novo Banco found just enough demand to print its first preferred senior bond this week, setting the issuer off on a journey towards its minimum requirements for own funds and eligible liabilities (MREL) targets. Market participants drew attention to the Portuguese bank’s controversial past, including imposing unexpected losses on a group of senior bondholders.
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Four public sector borrowers received strong receptions in the primary US dollar market this week, with a lack of supply in the currency over the last few weeks overriding volatility in US Treasuries.
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African Development Bank and New Development Bank received ample demand in the primary dollar public sector bond market on Thursday, allowing the supranational borrowers to print chunky deals.
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African Development Bank and New Development Bank will add to the week’s dollar SSA bond supply on Thursday. The lack of issuance in the currency in June is helping to boost sentiment in the market despite a rocky rates backdrop.
