Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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◆Highest rated FIG bail-in paper in euros ◆ Prices level with Nordic peer ◆ Premium paid
Currency's higher yielding appeal has lured investors across the capital stack
More US banks have used callable format for opco dollar issuance this year
◆ US company aims to issue more frequently in euros ◆ Final book heard at €1.75bn ◆ Favourable relative pricing at seven years
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ICICI Bank took the market by storm on September 11 by pricing a $500m 5.5 year deal with a coupon of just 2.5% – the lowest ever achieved by an Indian lender. -
Metropolitan Life hit screens with a trio of senior unsecured deals on Wednesday morning, looking to print in euros, Australian dollars and Swiss francs. Strong appetite for insurance company paper helped assure it of a warm reception for its euro and Aussie deals, with the francs yet to conclude.
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Abu Dhabi Commercial Bank returned to the dollar market on Tuesday and made a 50bp saving at the five year part of its curve. Middle Eastern spreads have come flying in over the past year and bankers said that the bond came at the tightest possible level.
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The senior FIG market enjoyed a barnstorming week in euros. A combination of a positive market tone following last week’s European Central Bank meeting and high levels of cash at investment houses allowed issuers to rack up large order books while pricing at competitive levels.
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The last of China’s four bad debt managers to tap the dollar market for funding, China Great Wall Asset Management Corporation, raised $500m with a 2.5% three year bond that was more than 10 times covered by investors.
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ICICI Bank opened books for a 5.5 year bond on September 11, just four months after the Indian lender last tapped the dollar market for funding.
