Euro
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The Republic of Argentina is set to continue its huge year of bond issuance with its first euro-denominated trade since its 2001 default. The announcement comes after the finance ministry said it would need to raise up to $15bn of international debt next year. -
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A handful of deals could hit the euro market for public sector borrowers next week, with the seven year part of the curve looking particularly attractive — the latest evidence for which was a KfW trade this week.
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Worries over an upcoming Italian constitutional referendum have driven a wedge between Italy and Spain’s sovereign bond curve, which is at a level not seen since January 2015, according to Société Générale.
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Worries over an Italian constitutional reform referendum have driven a wedge between Italy and Spain’s sovereign bond curve, which is at a level not seen since January 2015, according to a note from Société Générale.
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The European Stability Mechanism is likely to raise the last €1bn of its third quarter funding needs by tapping a long dated bond, or with a shorter dated auction, SSA bankers said on Thursday.
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mBank priced a new four year euro denominated bond through its existing curve on Wednesday as investors shrugged off concerns over Polish bank risk.
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Ubisoft, the French computer games publisher, raised €400m on Wednesday in a highly successful convertible bond issue that was the first capital markets deal in its stock since 2010.
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The Community of Madrid on Wednesday priced a eight year euro syndication fractionally inside the Italian sovereign curve.
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Poland’s mBank saw strong demand for a new euro-denominated four year senior unsecured benchmark after initial price thoughts were released early Wednesday.
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KfW brought a seven year euro benchmark on Tuesday that equalled for size a similar trade from fellow jumbo issuer European Investment Bank two weeks ago — but topped it for orders and spread.
