ESM-EFSF
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Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data. -
Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.
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Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.
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Agence Française de Développement mandated banks for its second benchmark of the year on Tuesday, as the European Financial Stability Facility drew almost €5bn of orders to a new 10 year line.
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Volatility across credit markets on Monday morning and late last week did not put core SSA issuers off from mandating for deals in dollars and euros — nor did heavy supply last week. A trio of issuers mandated banks on Monday afternoon for syndications in the wake of $7bn and €15bn of benchmark supply last week.
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Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.
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This week SSA Markets provides funding updates on key European supranationals and agencies. Click here to find out which issuers have completed over half of their 2014 funding requirements.
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The European Stability Mechanism practised its usual policy this week of offering a decent premium to attract a bumper order book. While some bankers felt that it was being too cautious — after all it was only looking for €3bn, a paltry amount by ESM’s standards — the strategy the supranational is playing is a canny one. Other issuers should take note.
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Germany’s Joint Laender hired five banks on Wednesday to run a 10 year deal, while the European Stability Mechanism received a riotous reception to a long five year at sub-Libor levels.
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The European Stability Mechanism mandated banks on Tuesday afternoon for what could be the only euro benchmark of the week, surprising with a five year maturity rather than the expected 10 year trade.
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Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.
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The European Stability Mechanism is expected to take centre stage in the new issue markets next week as holidays in Europe and Asia make for a small window. The European bail-out borrower is tipped to mandate for a 10 year deal — although three and five years are also options.
