JP Morgan
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US banks could be set for an extended hibernation from the dollar market after entering third quarter earnings blackout. -
Two borrowers visited the long end of the dollar curve this week and while both completed their deals successfully, investors clearly displayed more appetite for the higher yielding of the pair.
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Bank Nederlandse Gementeen kicked off a busy week for socially responsible bond issuance by public sector borrowers with a well-received 12 year sustainable bond, its longest ever deal in that format.
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The Development Bank of Japan will kick-off a series of investor calls on Thursday for its first sustainability bond under its freshly updated framework, which includes assets related to its response to the Covid-19 pandemic.
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BPER Banca, the Modena-based banking group, has unveiled the terms for a €800m rights issue to fund an acquisition of hundreds of branches across northern Italy from Intesa Sanpaolo.
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Fresnillo, the Mexican mining company, notched a first bond in seven years close to where bankers spotted fair value on Tuesday to reassure market participants that issuance are good for strong credits.
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Asian Development Bank and the Province of Ontario hit the dollar market on Tuesday, with both issuers tapping the tricky 10 year part of the curve ahead of the start of public holidays in Asia this week which will put a pause on issuance in the currency.
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Adidas showed that the sustainability bond market has further to run on Tuesday, when the German sportswear company launched its debut trade in the format inside fair value.
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Svenska Handelsbanken found tight pricing for a dual offering of additional tier one (AT1) notes on Tuesday. It became the first European bank to set a dollar AT1 coupon of less than 4.5% for one of its tranches.
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Mongolia returned to the dollar bond market on Monday, ending a nearly three year hiatus. The sovereign borrower pulled off a $600m liability management exercise that has taken care of the country’s upcoming bond maturities.
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French semiconductor maker Soitec has returned to the equity-linked debt market with a new €325m five year convertible bond, after a rally in its share price since March.
