Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Like many senior sukuk from the Gulf, local investors will drive demand
◆ Weaker backdrop for FIG issuance ◆ Deal printed with a negligible spread above previous, shorter bond ◆ Nearly triple digit spread lures investors
◆ Rising investor sensitivity due to tight unsecured FIG spreads ◆ Deal centred around real money orders after hitting €4.5bn peak book ◆ Hardly any concession left on shorter tranche, minimal on longer one
Despite the boost in demand, overall unsecured supply still lags behind 2025, with the bulk of recent supply coming in covered bonds
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Zurich Insurance Company looked to raise funding on Wednesday with a long-dated senior bond, taking advantage of less volatility as the market waited for news about the Brexit negotiations. -
CaixaBank proved popular this week on its return to the non-preferred senior bond market, raising €1bn and welcoming more than two times as many orders.
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Commerzbank enjoyed a smooth execution for its first green bond on Tuesday, having found a clear window to issue amid recently volatile market conditions.
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Chinese state-owned enterprise (SOE) Shandong Gold Group Co achieved size with its three year outing on Monday, raising $600m. Another government-linked entity in the province, Weifang Urban Construction and Development Investment Group Co, debuted in the offshore market with a $250m trade.
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Japan’s Sumitomo Mitsui was one of two benchmark issuers in dollars in a week cut short by holidays, as markets were battered by volatility ahead of the start of US bank earnings season.
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Luminor Bank, an Estonian financial institution, was looking to place a small senior unsecured deal in the euro market on Wednesday, in spite of volatile market conditions. The transaction will be the issuer’s first step towards reducing its reliance on bank facilities as a means of funding.
