Mizuho
-
-
It was another sparkling week in dollars for public sector borrowers, with Asian Development Bank the pick of the bunch as it brought the tightest deal of the year so far versus Libor and US Treasuries. More supply is expected for next week, although some SSA bankers feel the market could do with a “breather”. -
Japanese banks are unlikely to enjoy any let-up from razor-thin net interest margins in 2019. This is worrying for their long-term sustainability, but it’s potentially a bonanza for DCM specialists in Europe and the US.
-
The public sector dollar market on Wednesday showed that it had more than enough depth to cope with a pair of issuers bringing deals in the same maturity with just a basis point of difference in initial price thoughts, as both trades came in size and at tightened pricing. Another agency is set to dip into the demand on Thursday.
-
Two SSA borrowers will go head to head in the dollar market on Wednesday, bringing five year benchmarks with only 1bp difference in initial price thoughts.
-
China Development Bank has made a rare visit to the public Hong Kong dollar bond market, raising HK$4.3bn ($548m) from a triple-tranche floating rate transaction that included a 10 times covered decade-long note.
-
Turkey’s export-import bank (Turk Eximbank) raised $500m with a five year bond on Wednesday, becoming the first Turkish borrower, apart from the sovereign itself, to access the market since the lira crisis. The deal benefitted from a relief rally following a Turkish central bank meeting on Wednesday.
-
Turkey’s export import bank raised $500m on Wednesday, returning to the bond market for the first time since the Turkish currency crisis in 2018, benefiting from a relief rally following the Turkish central bank meeting on Wednesday.
-
Korea National Oil Corp’s debut in the Japanese yen market on Wednesday was one to remember. The deal was the largest single-tranche Samurai bond on record in Asia, despite a rise in tensions between the two countries.
-
Turk Eximbank has released initial price guidance for a $500m five year senior unsecured bond.
-
Bank Rakyat Indonesia (BRI) has launched a $700m multi-tranche loan into general syndication, raising some debate among bankers about the tight pricing on offer.
-
There has been precious little cheer in the dollar market but Anheuser Busch Inbev (AB InBev) provided some on Thursday when it printed the biggest corporate investment grade trade since October amid signs of improving sentiment.
