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A wave of Mexican corporates swapping the proceeds of dollar issuance back into their home currency has tilted the peso-dollar basis swap, benefiting those that can issue in pesos and swap back into dollars. -
Demand for SRI bonds and favourable basis swaps are boosting the Swedish krona market for SSAs, despite concerns late last year that the Swedish central bank’s tightening monetary policy and the krona’s appreciation against the dollar could stifle issuance. The European Investment Bank, Nordic Investment Bank and African Development Bank all came at the long end of the krona curve this week.
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Barclays rolled out sweeping cuts to its investment bank on Wednesday, with around 100 jobs gone across the business, including several managing directors in the EMEA primary bonds business.
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SSA issuers are able to offer a pickup against Mexican government bonds for the first time "in memory", according to one head of local currency bonds.
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GlobalCapital understands Stefan Kleine, formerly of BNP Paribas, will be joining Credit Suisse in a non-syndicate role.
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Cyril Romaphosa's victory in South Africa's African National Congress leader election on Monday sent the rand to its highest level against the dollar since June. The political shake-up could spark opportunities in the currency for borrowers, said bankers.
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Sales of private and structured MTNs have both fallen in 2017, with the private EMTN excluding self-led category down about 10% from a year ago.
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The International Finance Corporation has placed its first ever Serbian dinar bond, with the intention of financing a particular project in the region.
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A flurry of activity in the Australian dollar market this week may be at an end after a lower than expected third quarter Australian GDP print.
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The European Private Placement Facility (EPPF) has completed its first bond issue, which those involved say is the start of a “revolution” in debt capital markets.
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The global co-head of MTNs and private placements at Crédit Agricole has left.
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The Asian Development bank has issued its first bond to finance projects promoting women’s empowerment in Asia and the Pacific.
