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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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Thailand’s Kasikornbank prioritised price over size for its return to the bond market this week, selling a $400m deal at a level that forced some investors to stay away. -
Santander has come to the market with its second senior non-preferred bond in euros, as banks turned back towards the currency in the second week of the year.
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Deutsche Bank opened books on three tranches of non-preferred senior debt in the euro and sterling markets on Tuesday, becoming the latest European financial institution to knock out multiple funding obligations in one go.
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Thailand’s Kasikornbank is in the market with a 5.5 year dollar bond, some 15 months after its last appearance in the offshore debt market
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Power Construction Corporation of China (PowerChina), Bank of Shanghai subsidiary BOSC International Company and financial services firm Guangxi Financial Investment Group Co are testing investor appetite for new bonds.
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Groupe BPCE and Banque Fédérative du Crédit Mutuel (BFCM) both favoured the senior preferred instrument as they came to the market on Monday in dollars and euros respectively.
