Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
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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More articles
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Rabobank and BNP Paribas tapped antipodean currencies for a trio of deals in both kangaroo and EMTN format this week.
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Akbank’s German subsidiary, Akbank AG, will begin roadshowing its inaugural bond with investor meetings next week. But with few EM banks issuing from developed market subsidiaries, the price discovery process will be more difficult.
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China’s recent surprise interest rate cuts and a conservative approach to deal size helped Bank of Communications Taipei Branch to price its Rmb2bn ($325m) Formosa bond tightly on Thursday. The deal, which was only the second four-tranche Formosa, was the first from a Chinese bank to feature a domestic Taiwan rating — although bankers said this had little practical effect on investors, who still looked at the parent’s credit. -
Supportive secondary markets and tightening credit indices have deceived issuers of senior and covered bonds in the FIG market, causing five to pull the plug on new transactions over the span of five trading days. That left market participants wondering if the year is over for FIG issuance, as investors happy with returns on the year have avoided taking on further risk — despite issuers offering spreads that have previously led to successful deals, writes Nathan Collins.
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Let’s hope FIG issuers learn their lesson from the avalanche of pulled senior unsecured deals over the last two weeks. One failed deal is unfortunate, but four looks careless.
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Bank of New Zealand and Rabobank navigated a tricky senior unsecured market for financials this week, selling the only deals of the week on Monday.
