ESM-EFSF
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A series of oversubscribed deals among core issuers could encourage Austria to seek a print in the current market.
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The European Financial Stability Facility and Nederlandse Waterschapsbank on Tuesday brought euro benchmarks in five and seven year maturities. Now much more at those tenors is expected. -
A bevvy of public sector borrowers are lining up euro deals for Tuesday and beyond — but some are opting to hold back price thoughts amid a cluttered and volatile backdrop.
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A healthy euro benchmark pipeline is building for next week, with one supranational looking to print and a pair of sovereigns believed to be considering deals, after a week that didn’t finish as strongly as it started for core issuers.
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KfW raised €3bn with a slow burning seven year benchmark on Thursday, leaving SSA bankers wary about the threat of over saturation in the currency as several issuers mull deals for next week.
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The European Stability Mechanism is seeking ideas for a bond issue next week, as the euro market burst back into life following a holiday across much of Europe on Wednesday.
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The European Stability Mechanism has announced a 23% increase in funding for 2016 as well a diversification play into privately placed issuance in its December newsletter.
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Spreads to Bunds tightened on Thursday following a European Central Bank meeting that disappointed market participants expecting more stimulus, leading to a sell-off of German government debt.
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The European Stability Mechanism said it would disburse €2.72bn to recapitalise Piraeus Bank on Monday, drawing upon the €10bn in funds earmarked for the Greek recovery for the first time.
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The eurozone’s rescue fund forged a new benchmark maturity in public sector bond markets this week, treating yield-starved investors to a 40 year deal that was doubled from a launch size of €500m, writes Virginia Furness.
