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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Rabobank was set to follow the example of fellow Dutch lender ABN Amro by selling floating rate Swiss franc debt at the short end of the curve on Wednesday. By selling notes with a maturity just shy of two years the bank is expected to be rewarded with strong demand from money market funds.
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Credit Suisse and ING both hit the senior market with new issues on Tuesday drawing hefty order books for euro deals. While Credit Suisse offered a juicy premium to guarantee success, ING was able to gather almost as many orders at what bankers away from the deal saw as a tight level.
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Bank of Communications Hong Kong branch (BOCOM HK) priced a three tranche Taiwan-listed renminbi-denominated bond on Monday, raising a total of Rmb2bn ($325m) across three, five and seven year tenors. The deal is only the third Formosa bond to total Rmb2bn, and the first to be priced this year since Export-Import Bank of Korea (Kexim) raised Rmb1bn exactly five months earlier. -
Bank of America Merrill Lynch is set to price a blowout dual tranche senior euro bond on Monday afternoon, offering what bankers away from the deal see as healthy new issue premiums and adding to a busy year so far for US issuers in euros.
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Finland’s Pohjola Bank is set to return to the Swiss franc market after a three year absence on Monday, with the issuer’s rarity in the currency allowing it to double its minimum size ambitions as investors flocked to buy the seven year paper.
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Issuers benefited from ideal market conditions for senior unsecured trades this week, with spreads rocketing inwards following the European Central Bank’s decision to cut rates last week. While the sharpest part of the rally may be over, issuers are expected to enjoy an easy ride for the foreseeable future as syndicate bankers expect spreads to grind even tighter.
