HSBC
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KfW opened the door for dollar issuers after a quiet few weeks in the currency, although the issuer — and SFIL, which followed it — had to navigate some price discovery after last week’s Italy-led volatility. -
The tone in Europe’s corporate bond new issue market continued to strengthen on Thursday, as two issuers came to market and achieved strong sales, despite a wider market that worsened during the day.
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The Basque Government this week gave one of the best signs that investor worries about Italy’s political situation are unlikely to spill over to other countries as it printed a three times subscribed debut sustainability bond.
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SFIL followed KfW into a reopened dollar market this week with only its second ever dollar benchmark, while engaging in a bit of price discovery that leads said was “spot on”.
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NRW.Bank is preparing the next line in its green bond offering and hired banks on Thursday to run investor meetings next week.
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Greece’s Hellenic Petroleum has refinanced around €900m of loans, with the energy company claiming it was able to “significantly” reduce the margin while increasing the loan amounts.
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UBS appoints Asia DCM syndicate heads – BNP’s SEA loan syndicate head to relocate – Morgan Stanley’s ECM co-head dies at 41 – Goldman DCM banker moves to Macquarie – CMS’s Chien moves to buy-side – Citi builds Oz team – Wong leaves HSBC
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Romania has released initial price guidance for a dollar bond offering around a 30bp-40bp pick-up over its outstanding curve, according to a banker away from the deal.
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The Federal State of Berlin printed a 15 year trade on Wednesday — its first €1bn bond since 2015, according to Dealogic. The trade was joined by a five year from Corporación Andina de Fomento.
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KfW reopened the public sector dollar market on Wednesday by picking up a hefty $4bn from a well oversubscribed book. Société de Financement Local will be next up, after mandating banks for a trade.
