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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Three periphery issuers took the limelight in the senior market this week — Banco Espírito Santo, Bank of Ireland and La Caixa all selling euro benchmarks. All three issuers can be pleased with their order books — La Caixa recording hefty demand and Bank of Ireland and BES impressing on quality. -
New York Life Insurance Co sold its first Swiss franc bonds since 2006 on Tuesday, drawing interest for a five year deal despite a low coupon.
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Emirates NBD this week became the third Middle Eastern issuer this year to take to the Kangaroo market, selling a five year bond. A weaker rating than other Middle Eastern issuers that have been active in the Kangaroo market harmed the issuer’s appeal to Australian investors, but a juicy spread over swaps drew in Asian investors.
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Bank of Ireland highlighted the rehabilitation of financials from the eurozone's periphery in the eyes of investors on Wednesday by drawing a high quality order book for a new three year benchmark. La Caixa was also in the market with a comfortably oversubscribed three year bond.
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Private placement investors are scrambling for Dexia Crédit Local's short dated floating rate notes. It began posting levels on Tuesday and quickly printed two trades, according to medium term note dealers.
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Bank of Ireland is set to sell its third senior unsecured benchmark since the financial crisis on Wednesday, choosing a three year deal. Meanwhile, La Caixa has drawn a strong response for a euro benchmark senior unsecured of its own.
