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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Korea Exchange Bank raised $700m, marking its return to the international bond market after a two year absence, drawing $5.5bn of demand after offering investors a juicy premium to its sister institution, Hana Bank.
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The relief among investors over the results of Greece’s recent election caused syndicate bankers to push their clients to come to the market at the start of the week, and two issuers quickly obliged.
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NIBC is targeting a government guaranteed note for buyback, as it seeks to use excess liquidity to smooth out a redemption spike. The issue is a €1.5bn 3.5% deal that matures in April 2014, with the cash tender offer capped at €250m.
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After the briefest of rallies on Monday, followed by widening which saw the iTraxx senior financials index close 10bp higher on the day, senior unsecured bankers searched for reasons to feel more optimistic on Tuesday.
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South Korean lenders Shinhan Bank, Woori Bank and Hana Bank are planning to issue Samurai bonds next month, hoping to cash in on the continued demand for Korean credits in the Japanese market, funding officials told EuroWeek Asia.
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Agricultural Development Bank of China raised Rmb3bn ($471m) from a three-tranche offshore renminbi bond last week, using strong anchor demand to price the deal inside or at worst flat to its existing curve. But some investors complained about the tight pricing, and pulled their orders.