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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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  • New Zealand’s ASB Bank mandated lead managers on Thursday for investor meetings ahead of a possible euro deal. A senior unsecured deal would be the issuer’s first in euros for six years.
  • Commonwealth Bank of Australia and Royal Bank of Canada were both looking to sell sterling debt in the belly of the curve on Wednesday, the Australian issuer looking for fixed rate notes and the Canadian bank for floating rate paper. RBC is targeting an aggressive level compared to CBA, according to FIG syndicate managers.
  • Wells Fargo gathered strong interest for a 10 year euro benchmark on Wednesday, investors were attracted to the deal by a healthy outright yield. Santander Consumer Bank decided to hit the other end of the curve, selling two year debt.
  • Syndicate Bank made a return to the dollar market with a 5.5 year Reg S issue on Wednesday. The borrower is the first Indian name to appear in international markets after the Narendra Modi-led Bharatiya Janata Party (BJP) landed a sweeping victory in the Indian elections on May 16.
  • Bank of Communications sold its first ever Swiss franc debt on Tuesday, a three year note. The issuer, which was able to double its target size, is just the second issuer from China to access the Swiss debt market.
  • Spanish lender Bankinter is set to continue a run of successful trades from the eurozone’s periphery on Tuesday afternoon, surprising market sources with the scale of demand for five year paper at what some see as a punchy price.