Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ Larger-than-usual size ◆ Constructive Friday opening led to three well-received FIG trades ◆ ...of which Alpha may have paid the least NIP
◆ 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
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New supply in the covered bond and SSA markets has encouraged FIG syndicators that the senior unsecured market could reopen next week, following recent volatility.
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South Korean lender Hana Bank is closely watching the market before launching an international bond, after finishing a series of investor meetings to drum up demand for the deal more than a week ago.
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National Australia Bank (NAB) has added renminbi to the list of available currencies in its commercial paper (CP) and certificate of deposit (CD) programme, in what dealers have deemed a smart move.
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Malaysia’s Hong Leong Bank priced a $300m five year deal inside its outstanding curve late last week, despite competing with two other issuers in the international bond market.
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UK hedge fund manager Man Group is aiming to buy back up to €200m of senior debt in a tender offer that is intended to reduce surplus funding.
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Uncertainty over the economic outlook for peripheral Europe hurt the senior unsecured market on Monday, with rising yields in Spanish and Italian government debt putting pressure on secondary cash spreads. Bankers said none of the senior transactions issued over the past months were tighter than re-offer, adding that issuers were discouraged from primary issuance by the widening, even though the market was still open.