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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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Danske brought its first ever senior non-preferred deal on Monday after it was unexpectedly postponed a fortnight ago, as supply looked set to surge in the FIG market this week.
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HSBC took home $6bn from a callable bond issuance on Thursday, after Barclays opened the callable market for jumbo Yankee issuers earlier in the week.
