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Senior Debt

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The bank tightened a little more than a UAE peer did on Tuesday
◆ '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
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  • ICICI Bank had a fantastic outcome to its first US dollar issuance of the year, raising $500m this week with no new issue concession and even getting the seal of approval from bankers away from the deal.
  • India’s Yes Bank made waves this week selling only its second green bond on August 5. The the Rp3.15bn ($49.2m) 10 year trade is backed by the world’s first green Masala debt issued by International Finance Corp (IFC).
  • ICICI Bank is back for more dollars for a new five year bond on August 5, its first outing in 2015.
  • Two Formosa debuts from Korea Development Bank (KDB) and Citi have added to the flurry of issues in Taiwan's offshore renminbi bond market, taking volumes this year to Rmb28.2bn ($4.5bn), compared with Rmb20.8bn for the whole of 2014.
  • Greece’s largest banks could only muster a collective 'no idea' when requested by the Hellenic Capital Markets Commission to inform the public on the estimated impact of capital controls.
  • The euro market provided a mixed bag this week with Royal Bank of Canada pricing a €1.25bn five year FRN just a day after Banco Sabadell was forced to pull a four year bullet.