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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SpareBank 1 Østlandet, created from the merger of two banks operating in the area around Oslo, has picked banks to arrange its inaugural benchmark bond in euros. -
ANZ raised €750m this week from its first bond aligned with the UN sustainable development goals (SDGs), marking only the second such deal globally.
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Deutsche Bank avoided senior unsecured and subordinated bond markets, where its paper has widened considerably, to raise €500m of seven year covered bond funding on Wednesday. The bank paid virtually no new issue premium.
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Macquarie is set to issue in euros for the first time since 2015 as it looks to re-engage with investors in that currency. It will also be the first time it has issued at the group level in euros.
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Borrowers have returned to the FIG primary market, but investors are hoping for greater new issue premiums.
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ANZ equalled a record €750m deal size with its first ever sustainable bond on Wednesday, as bankers said that the market was wide open for deals in more defensive formats.
