Euro
-
The Flemish Community has mandated banks to arrange the sale of new seven and 30 year bonds as the Belgian sub-sovereign looks to pump in cash to finance a budget deficit which has arisen from the coronavirus pandemic. -
-
-
-
-
Unédic, the French unemployment agency, raised €4bn on Wednesday with a November 2029 social bond — its third under its new funding programme, which consists entirely of social bonds.
-
Two sovereigns pulled off successful deals on Wednesday, adding to the pile of syndicated European government bond issuance this week.
-
Italy is launching a new retail product, the BTP Futura, turning to its impressive stock of domestic savings to help finance its recovery. It’s an excellent move, and could be even more valuable to Italy’s recovery from the ravages of the coronavirus pandemic than the external support of the European Stability Mechanism.
-
Unédic is preparing to issue its second social bond following its debut trade in the format less than a month ago — itself the biggest social bond ever from any issuer.
-
After three eurozone sovereigns hit the primary market on Tuesday, more supply will follow on Wednesday with Germany setting its sights on its second syndicated transaction after returning to the format in May, helping it deal with a much bigger funding programme in response to the coronavirus pandemic.
-
There were no issues of competing supply on Tuesday as three eurozone sovereigns amassed big order books, buoyed by last week’s expansion of the Pandemic Emergency Purchase Programme (Pepp).
-
Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, June 8. The source for secondary trading levels is ICE Data Services.
