Latest News
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Rare visitors hit screens as year end approaches
A handful of rare visitors came to the marker this week to place debt in dollars and yen, and bankers scrambled for a QNB mandate.
27 Nov 2019 -
RLOB prints CMS linker
Austrian bank Raiffeisenlandesbank Oberoesterreich has visited the MTN market to print a rare constant maturity swap (CMS) linked note - its first since 2018, according to Dealogic.
22 Nov 2019 -
FIG syndicate director leaves UBS as part of wider reorg
A FIG syndicate manager has left UBS in London as part of a much wider reorganisation. This has boosted syndicate staffing levels in Frankfurt, among a number of sweeping changes.
19 Nov 2019 -
Rare Toyota Industries deal spices up MTN menu
Infrequent issuer Toyota Industries Finance International revisited the MTN market at the end of last week to place its second euro floater of the year. Meanwhile, in dollars, a trio of emerging market banks have printed fixed and floating rate paper in the last week.
28 Oct 2019 -
FRN bonanza sweeps MTN market
Corporate, FIG and SSA issuers placed floating rate notes this week, pegged to Euribor, Sonia and Libor. With so many issuers coming to market, bankers are interested to see which other borrowers 'take advantage of the liquidity'.
04 Oct 2019 -
Metro mulls public and private MREL options as Fitch cuts debt rating
Fitch Ratings has downgraded Metro Bank a month after giving the UK lender its first rating. It expressed concern about Metro’s recent failure to raise debt for looming regulatory requirements, but the bank is insisting that it still has plenty of options on the table — including looking at solutions in the private market.
01 Oct 2019 -
Westpac goes big as MTNs move into peripheral markets
Westpac placed just under HK$13.4bn into the Hong Kong market across two MTNs last week — the pair of bonds are its largest ever in the currency, according to Dealogic. The notes came in a busy week for niche issuance, and bankers have posited that this move into the peripheral markets comes as a response to the global fall in yields.
03 Sep 2019 -
MTNs slip through as public market resumes
Issuance is starting to resume after the summer break; however, this week a booming public market drew away investor and issuer attention from MTNs. Despite this, a range of established SSA, FIG and corporate borrowers have slipped in, with deals across core, niche and EM currencies.
30 Aug 2019 -
Scandi taps flow after summer break
Volumes are growing across the spectrum in the Scandinavian MTN markets, as issuers and bankers return from their summer holidays. Meanwhile, bankers are expecting Scandinavian investors to move further out along the credit curve in response to negative yields as dovish Nordic central bank tones could lead to a bullish Scandinavian market.
13 Aug 2019 -
World Bank floats in Hong Kong dollars for the first time since 2009
The World Bank placed its first Hong Kong dollar deal of its 2019/2020 funding year last week. The supranational chose to link the private placement to the Hibor benchmark, a now little seen structure that was likely the result of a "very specific enquiry", according to one MTN banker away from the deal.
29 Jul 2019 -
Rare FIG issues take to euros in MTNs
An infrequent FIG issuer returned to the medium term note (MTN) market this week to place the second of a pair of identical floating rate notes (FRN) this month. While on Wednesday, another bank brought back a structure that has rarely been seen since the financial crisis, according to one banker.
25 Jul 2019 -
MTN investors opt for the ‘familiar’
A cavalcade of “familiar names” have come to the market over the last week. SSAs, corporates and FIG issuers printed across the euro curve, while a trio of supranationals were also active in emerging market currencies.
23 Jul 2019 -
Volvo revs into Hong Kong ‘melt-up’
Swedish car manufacturer Volvo made its debut in Hong Kong dollars on Wednesday amid increasing tensions and unrest in the city.
04 Jul 2019 -
Lloyds wraps up debut bond offering from non-ringfenced bank
Lloyds Bank Corporate Markets, the non-ringfenced arm of Lloyds Banking Group, has made its capital markets debut. The UK bank went private to place short-end paper in both fixed and floating rate formats, ahead of a debut in the public market later this week.
02 Jul 2019 -
Banco del Estado de Chile makes Aussie return
A pair of emerging market banks placed MTNs this week. In Australian dollars, Banco del Estado de Chile printed a 10 year note on Tuesday, while on Monday, Qatar National bank placed short end dollar paper.
27 Jun 2019
