Euro
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Municipality Finance this week enjoyed a boost to its plans to term out its funding, as an investor placed a reverse enquiry order for a record breaking long dated euro note. -
While Thursday’s European Central Bank meeting brought little in the way of material changes, the SSA market is watching closely, expecting a tightening of eurozone monetary policy. Meanwhile, the Joint Laender launched a euro seven year benchmark.
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The World Bank has sold a new class of equity-linked bonds that can be added to the burgeoning selection of socially responsible investments.
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Alliance Data Systems Corporation (ADSC) raised €400m from a high yield bond on Thursday, taking euro issuance from US companies to 20% of all European sales in the asset class so far this year.
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Sentiment among fixed income investors turned cautious this week amid expectations of a US interest rate hike and the recent robust supply in the primary Asia ex-Japan market. But market participants are taking heart from the stability in secondary, and believe that the region’s fundamentals and technicals will help overcome challenges. Addison Gong reports.
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Export-Import Bank of China managed to achieve the lowest spread for a euro bond from a Chinese name this year with its three year in the currency, part of a $3bn-equivalent Reg S deal.
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Export-Import Bank of China made a strong comeback to the Asia debt market on Tuesday with a $3bn equivalent three tranche dual-currency Reg S deal. Its three year euro bond achieved the lowest spread in the currency from a Chinese name this year.
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Multilateral development banks will focus more on providing credit enhancement and support to help small, emerging market borrowers bring their green bonds to market, according to the head of climate change at the European Investment Bank. Meanwhile, a French region visited the green market on Tuesday.
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The European Stability Mechanism returned to stellar form this week, hitting the sweet spot for euro demand and exceeding its first quarter funding target. Bpifrance Financement will look to follow up the supranational’s success on Wednesday.
