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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Specialist mortgage bank Muenchener Hypo (MuHyp) and savings bank Sparebanken Vest, which typically fund in covered bonds, are both looking for unsecured funding this week. MuHyp is looking to tap one of its strongly performing senior issues, while Sparebanken Vest is marketing its debut senior unsecured issue in euros. -
China’s Avic International Leasing Co sealed its first offshore dollar deal on Monday, manoeuvring through the market to land support from investors outside of its traditional home base.
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Hong Kong-based Far East Consortium International (FEC) and Chinese securities house Guotai Junan International Holdings both sold unrated bonds on Monday. While neither issuer saw overwhelming demand, they still managed to walk away with their desired $150m and $300m, respectively.
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Barclays opened books for its first green bond transaction on Monday — a callable senior deal from its holding company — as two more financial institutions said that they would hit the road with new green bond frameworks of their own.
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HSBC was looking to sell callable senior bonds in the sterling market on Monday, after its group finance director said recently that the bank would issue new debt ‘opportunistically’ if conditions remained supportive in 2017.
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Equity investment group China Jianyin Investment (JIC) is readying an international bond offering, mandating banks ahead of investor meetings.
