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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 debt investors have stood ready to take on a barrage of deals in multiple currencies this week, and there is little sign that they have reached their limits. -
ABC International Holdings tackled its looming maturities head on with a $500m three year bond on Tuesday, finding favour among investors thanks to fair pricing and its rarity value.
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Bank of Ireland was simultaneously in the sterling market and the dollar market on Tuesday as it sold tier two bonds from its holding company.
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Austria’s Hypo Vorarlberg made its first entry into the green bond market this week, clearing the path for future deals by not squeezing the price.
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BOC Aviation landed safely with its dual-tranche bond on Monday, pricing both the $500m portions inside its curve. While participation from US investors was significant, Asian accounts were still the price leaders, helping the issuer keep its costs low, said bankers.
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ABC International Holdings is back in the offshore bond market, opening books for a senior unsecured fixed rate dollar trade on Tuesday. Separately, Beijing Infrastructure Investment Co is set to end its two-year absence from the international market.
