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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China Huarong Asset Management Co priced an almost $3.4bn five tranche bond in two currencies on Tuesday, restarting supply from Chinese financial institutions after the sovereign repriced the curve last week. -
Industrial and Commercial Bank of China is marketing a dollar bond deal spanning three tranches through its New York branch.
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Lloyds opened books on Tuesday on its first callable senior bond transactions for the minimum requirement for own funds and eligible liabilities (MREL) on Tuesday, following Santander UK into the dollar market as banks start to think about pre-funding for 2018.
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China Huarong Asset Management Co started taking bids for a five tranche, dual-currency bond on Tuesday morning. It wants to become the first Chinese financial institution to sell offshore bonds after the sovereign tightened the curve with a landmark deal last week.
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Swedbank set tight final terms for its €500m five year senior green bond on Monday, as the Swedish lender followed green debuts from Nordea and Skandinaviska Enskilda Banken (SEB) earlier this year.
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Santander UK took home $2.5bn of funding at the holding company and operating company levels at the end of the last week, seizing on attractive conditions in the dollar market to front load some of its 2018 issuance.
