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Late Labor Day this year and mid-September FOMC will constrain September issuance window
◆ Greek bank's first issuance of the year ◆ Tenor and IPTs attracted domestic and international demand ◆ Deal praised for its strong execution
The Reserve Bank of India's subsidised window for raising foreign currency borrowing has accelerated the country's banks' dollar issuance blitz
Data
Observers blame slower bookbuilding on deal-specific factors but others see warning shots for whole market
Covered market provides 'the deepest pocket of demand' among FIG asset classes
Capital deals and a tight Nordic senior print point to what lies ahead for issuers
The single currency stands out as the most attractive funding source while the US dollar market remains open in size
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Credit investors are pleased with how banks performed in the EU stress test, though the sector lost more capital on average than it did in the previous exercise in 2018. The market was even sanguine about Banca Monte dei Paschi di Siena, which will be able to stick to its ‘fallback’ plan despite losing all its capital under the adverse scenario. -
ING is set to print the first Australian dollar covered bond of the year this week. Covered paper out of the region has remained scant over the last 12 months, but issuance is set to pick up as onshore lenders start to think about life after the end of the Reserve Bank of Australia's Term Funding Facility.
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Standard Chartered opened books for a dollar additional tier one (AT1) bond on Tuesday, pairing the new issue with an early tender for its perpetual non-call April 2022 note.
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The rating agency said the bank's tier twos were at a high risk of default because of UniCredit's takeover offer
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HSBC Holdings issued $3.5bn of senior debt this week, as large European banks make hay in August
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The Swedish krona covered bond curve has steepened over the course of the year alongside a rise in net issuance, with last month's volumes almost twice those of last July.
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Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
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The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
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