Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ Unusually busy Friday for European bank funding ◆ Small premium, large demand ◆ Meanwhile 10 year OAT-Bund spread breaches 100bp
◆ Market participants await Meta's rumoured euro debut ◆ Carrefour sells first Friday corporate deal since June ◆ Three FIG names hit the market
Higher new issue premiums make deals shine amid market volatility
Citigroup and Wells Fargo hit positive post-Fed market with a $18bn salvo
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Indian banks look set to be attracted to the international dollar bond market in large numbers before the end of the year, after State Bank of India this week raised $1.25bn from a deal that paid only a small new issue premium.
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the chronic lack of issuance in the senior unsecured market showed signs of ending on Thursday after KA Finanz, the bad bank of nationalised Austrian lender Kommunalkredit, took indications of interest for a new deal.
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Negative economic data and bank issuers reluctant to tap the market maintained a supply-demand imbalance for stronger FIG names on Thursday, although investors could see some respite on Friday — KA Finanz, the bad bank of nationalised Austrian lender Kommunalkredit, is taking IOIs for a senior deal, led by Bank of America Merrill Lynch.
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Banks stayed clear of the senior unsecured market on Wednesday despite strong investor demand for FIG paper opening the way for opportunistic deals.
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China Development Bank is considering selling the longest maturity bond ever attempted in the offshore renminbi market. The mainland bank could sell a 20 year dim sum bond after getting feedback from investors this week.
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Senior unsecured bankers on Tuesday said that a lack of interest from issuers was holding back primary supply. Spain’s worsening debt problems did not appear to have affected demand in the secondary market, although turnover was low and there was some widening in CDS.