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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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  • Íslandsbanki has raised Skr150m via a reopening of its existing notes and is the second Icelandic bank to issue in a Scandinavian currency this week.
  • The Tokyo Pro-Bond market has welcomed its first offshore renminbi offering, with Mizuho Bank printing an Rmb250m ($41.1m) trade.
  • All eyes were on Bank of China’s landmark four-currency deal on June 24, which was divided into 10 tranches in dollars, euro, Singapore dollars and offshore renminbi (CNH). It became the first bond ever issued in support of China’s plans to extend its global influence under the "One Belt, One Road" (OBOR) policy, but its success doesn’t necessarily mean there will be more, reports Narae Kim.
  • Bank of China has opened books for what will be landmark deal issued in four different currencies in the same day. However, some investors decided not to jump into the deal, thinking that the issuer came out with too tight pricing from the beginning.
  • Bank of China has signalled its commitment to Beijing’s “One Belt One Road” policy with plans for a new five-tranche, four-currency bond that will be issued by its branches along the trade rout. The senior notes in dollars, euro, Singapore dollar and offshore renminbi are expected to raise up to $4bn and are a global first.
  • Greek bank bond prices rose on Monday morning after positive signals from Greece over the weekend but bankers warn that this mini show of confidence is entirely speculative.