Europe
-
Finance for climate-related projects in emerging and developing countries provided by the world’s five largest multilateral development banks (MDBs) hit an all-time record of $43.1bn in 2018. -
A trio of Spanish banks hit the euro market this week, led by a popular offering of non-preferred senior bonds from CaixaBank.
-
Commerzbank, Jyske Bank, OP Corporate Bank and UBI Banca all issued €500m senior non-preferred bonds this week. But Jyske stood out for having inserted a call option into its transaction — an efficient move but a rare occurrence in the asset class.
-
Intesa Sanpaolo has signed a memorandum of understanding with Rubicon Capital Advisers, as part of the Italian bank’s attempts to beef up origination and distribution.
-
Having been subdued early in the week by Monday’s public holiday and declining swap rates, the Swiss franc market burst into life on Thursday morning when Commerzbank and Credit Suisse opened the books on a new dual-tranche offering for Orange (Baa1/BBB+/BBB+).
-
UK banks jumped back into the bond market this week, enjoying good demand for their funding and capital products. But with the country’s financial institutions having loaded up heavily on debt already, and with political instability causing near constant volatility within the sector, some market participants wonder whether investors have had all the UK FIG bonds they can stand. Tyler Davies and Bill Thornhill report.
-
Ukraine set the terms on its €1bn seven year bond on Thursday afternoon, taking advantage of a huge bid for CEE euro sovereign deals this week and a rally in the country’s own debt since president Volodymyr Zelensky was elected at the end of April.
-
Iceland returned to the euro market on Thursday, bringing a €500m five year issue in its first outing since December 2017.
-
-
-
-
The Inter-American Development Bank this week capitalised on a dearth of supply at the 10 year point of the curve to print its second dollar benchmark of the year.
