Euro
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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. -
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.
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Ukraine has released initial price guidance for a euro deal that the country has been waiting to print since before Volodymyr Zelensky’s presidential victory in April.
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China Merchants Bank priced three year bonds on Wednesday that were split between a $600m floating rate note (FRN) and a €300m fixed rate tranche.
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The Republic of Croatia launched its €1.5bn 10 year bond on Wednesday afternoon in London from a book of €6.4bn at a level 7bp inside of fair value, according to a lead manager on the note.
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The Republic of Lithuania has set spreads on its 10 year and 30 year euro bonds having crunched 10bp from initial guidance.
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The Republic of Indonesia raised more than $1bn from tightly priced bonds in the dollar and euro markets this week, taking advantage of improved investor sentiment and a recent upgrade to draw in investors.
