French Sovereign
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A pair of euro borrowers braved a tricky market on Tuesday, raising a combined €4bn despite heavy weather in government spreads. One opted for a defensive pricing strategy, while the other attempted to squeeze investors. -
Since Greece’s debt exchange operation in November, market participants have been expecting a return either at three years or seven years. Monday’s mandate brought the answer.
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This week's scorecard looks at the funding progress of French agencies as we move into February.
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France is hoping to add its name to a growing list of sovereigns in China’s Panda bond market, having discussed the possibility with at least two of the country’s biggest state-owned banks.
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Credit Suisse has let go of a managing director in debt capital markets.
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While Tuesday brought a flurry of euro benchmarks, the pace of issuance will slacken on Wednesday as the market battens down for a busy week of US data announcements.
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The first meeting of the Central Banks’ and Supervisors’ Network for Greening the Financial System has broadened the emphasis of the group’s work from a focus on climate change to one on climate and the environment.
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A trio of Europe’s less frequent public sector borrowers are set to hit screens for euro transactions on Tuesday, following a long end benchmark from a French agency on January 26.
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Public sector borrowers this week set new landmarks in what has already been an exemplary year in dollars, as KfW sold the largest 10 year dollar benchmark in 2.5 years and the Nordic Investment Bank priced the tightest deal versus swaps of 2018 so far. SSA bankers are confident that conditions will hold at both ends of the curve — allowing the possibility of further long end supply and even lower short end spreads.
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