Euro
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Korea Development Bank (KDB) tapped the green investor base in Europe for its latest euro bond, achieving a record low funding cost and an unprecedented 0% coupon for a South Korean issuer. -
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.
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Saudi Arabia hit screens on Monday to announce its first ever euro benchmark — a dual tranche with eight year and 20 year tenors.
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Agence Française de Développement (AFD)’s annual borrowing programme is expected to rise sharply in the coming years as a result of increased lending to developing countries.
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Investors poured into Agence Francaise de Developpement (AFD)’s 10 year euro benchmark on Tuesday, allowing the French agency to issue its largest ever trade in the currency.
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Rentenbank failed to achieve subscription for its €500m 10 year trade on Tuesday, despite offering a positive yield and a maturity that has been labelled the ‘sweet spot’ in the euro public sector bond market.
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Agence Francaise de Développement was the only public sector borrower to mandate banks for a new benchmark bond on Monday, as squeezed yields cause issuers to hold off from the primary market.
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The Republic of Serbia’s first international bond for six years took advantage of a wave of bond buying, after European Central Bank President Mario Draghi’s comments earlier this week signalled a growing chance of eurozone rate cuts.
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Philippine company International Container Terminal Services has closed its €260m borrowing after changing the use of proceeds.
