Most recent/Bond comments/Ad
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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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Bank of China, Industrial and Commercial Bank of China and Industrial Bank Co have raised close to $3.7bn from eight fixed and floating rate tranches in three currencies. But most of the portions had to offer a new issue premium, which ranged from a few basis points to as much as 15bp. -
South Korea’s Hyundai Capital Services was confident of finding support in a busy bond market on Monday, sealing $500m from an opportunistic trade that was launched without a roadshow.
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Macquarie Group was offering investors a seven year non-call six senior bond on Monday, in the financial services firm's first euro deal in three years.
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Investors did not require Crédit Agricole to pay any new issue premium for a €1.25bn offering of floating rate notes on Monday.
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The Single Resolution Board has decided that Latvia’s ABLV Bank should be wound up under national insolvency proceedings, suggesting that small and medium sized banks remain outside the scope of resolution action.
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Asia’s debt market is heading into March at full speed with seven issuers opening new deals on Monday. Borrowers need to be quick on their feet and act promptly over the next month to get their bonds past the finish line, said bankers in the region.
