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Senior Debt

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◆ 'Reassuring' result as Danish lender becomes more frequent issuer ◆ Strong bid from international accounts ◆ Minimal NIP
Hungary's change of government is still drawing in investors despite a difficult summer
Issuance from Turkey aside from the sovereign is down year-on-year, but not by much
Treasury volatility means a fair value estimate was more difficult than usual
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  • FIG
    Activity in the covered bond market had been expected to slow down but instead it has been surprisingly busy this week, with as many as three euro benchmarks surfacing over the first three days.
  • Westpac was set to print its second foreign currency deal in as many days on Tuesday, but some bankers said the borrower ran into difficulties in euros.
  • Westpac looked to the sterling market for a seven year senior deal on Monday, as the number of redemptions in the UK currency swells towards the end of the year.
  • Commerzbank and Svenska Handelsbanken both launched senior deals on Monday, as the FIG market’s positive sentiment continued unhindered by what for many was the disappointing outcome of last week’s European Central Bank meeting.
  • Industrial and Commercial Bank of China’s London branch has established a $10bn MTN programme, paving the way for the unit to issue its first international bond.
  • Crédit Agricole braved the markets on Friday to price its third transaction in Swiss francs this year.