EMEA
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Loan size increased marginally after refinancing -
◆ Wessex Water and Bunzl in sterling ◆ Manchester Airport and Mondi in euros ◆ Market shrugs off Friday’s weak non-farm payrolls number
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The company issued a rare Gulf hybrid in January
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Badea to bring further supranational supply from the region after mandating for euros
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◆ ‘Exceptionally strong’ deal in tough market ◆ Rarity adds to appeal ◆ Danish krone benchmark could come next
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Core SSA spreads suffer as EU-level funding expected to jump, but concerns also loom over Bunds and other govvies
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Big orderbooks and zero average new issue concession paid belies chaos in rates market
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Some borrowers think the risks outweigh the benefits
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Deals priced with little to no new issue premium
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Market becomes harbour in geopolitical storm with borrowers tipped to set sail
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But low spreads on bonds posing stiff competition for loan market
