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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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  • Bank of Tokyo Mitsubishi UFJ (BTMU) took advantage of a red hot US dollar bond market on February 25 to raise $3bn — more than had been expected — through a triple tranche offering.
  • Woori Bank and Korea Expressway Corporation (KEC) are planning to launch their debut Formosa bonds in March, adding two more Korean names to the list of international issuers in Taiwan’s renminbi bond market, sources close to the deals have told GlobalRMB.
  • Intesa Sanpaolo drew a bumper book for a seven year senior print on Wednesday, highlighting the strong bid for an asset class that has seen minimal supply in February.
  • Goldman Sachs is set to list the longest tenor Formosa bond on March 3. The Rmb525m ($84m) 12 year deal, which had a formal pricing date of February 3 but was conducted with very little fanfare and has only just come to the attention of market participants, is also notable for being a zero coupon issue.
  • Bank of Tokyo Mitsubishi UFJ (BTMU) is taking advantage of a rally in US Treasuries to launch what could be a triple tranche dollar offering on February 25.
  • Nationwide and Pohjola Bank broke an almost three week long fast for the euro senior market on Tuesday, setting terms for 10 and seven year benchmarks respectively.