Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Even as USTs stay near 5%, supply expected to pick up
Elevated new issue premiums to battle issuer desire to avoid more volatility
◆ The threat of US corporate issuance to European borrowers ◆ The new funding environment for Middle East banks ◆ Reviving UK equity capital markets
As war drags on, banks are boosting hoards of cash after deposit outflows
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Burgan Bank, a Kuwaiti lender, was able to raise $500m of additional tier one (AT1) capital on Tuesday, returning to the market ahead of its previous AT1’s first call date in September.
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The Kingdom of Saudi Arabia printed its debut bond in euros on Tuesday. The deal was widely hailed a success, sold with a minimal new issue premium, final order books of over €14.5bn and trading up well in the secondary.
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The Bank of Bahrain and Kuwait has set pricing for its five year bond.
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Burgan Bank is in the market with an additional tier one benchmark, eyeing $500m. The order book has swollen to over $2bn.
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The Kingdom of Saudi Arabia has tightened guidance for its dual tranche debut in the euro market, offering a 10bp new issue premium for its eight year and a 5bp concession for its 20 year, according to a syndicate official away from the deal. Combined books are over €10bn, including €1.5bn of joint lead manager interest.
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Israel has returned to the market for a second time in 2019 to extend its euro curve by 20 years, placing its first ever 50 year note through a private placement.