LatAm Bonds
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Brazilian mining firm Vale went long this week, selling $1bn of 30 year notes with a spread of 265bp over Treasuries.
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Borrowers issued a wide range of niche currency notes this week with Australian dollars, Brazilian reais, and Norwegian kroner proving particularly popular.
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The Hellenic Republic was this week rumoured to be eyeing a 10 or 15 year euro transaction as Moody’s placed its A1 foreign and local currency ratings on review for a possible downgrade.
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Japan Bank for International Co-operation (JBIC), the international arm of Japan Finance Corp, this week expanded the reach of its global programme by issuing its largest dollar deal to date, a $3bn three year bond.