France's Région Bretagne printed its first ever medium term note on Wednesday, in a move to diversify its investor base and achieve more competitive terms on its debt.
Cassa del Trentino showed one of the big advantages of an MTN programme when it nipped in to take advantage of a one day rally in Italian government bonds and save precious basis points on its funding costs.
Cassa del Trentino has showed one of the major advantages of nurturing a medium term note programme by nipping in to take advantage of a one day rally in Italian government bonds to save precious basis points on its funding costs. As a small, infrequent issuer, the borrower showed some of its peers what can be achieved by taking the MTN route.
The Province of Trento’s funding arm Cassa del Trentino came to market early with a long dated medium term note to take advantage of strong performance in Italian government bonds. Meanwhile, Cassa Depositi e Prestiti mandated banks for a roadshow.
The Province of Trento's funding arm is set to bring a 20 year medium term note to market in the coming weeks, following a €150m deal from earlier in the month.
Deep down below the sea Smit Acharya swims happily. The BNP Paribas MTN dynamo is looking at fish in the Indian Ocean as we speak — or as we write and you read, more accurately.
Faced with negative yields, lack of supply and an influx of cash, triple-A rated money market funds have had to broaden their outlook to generate positive returns and, for some, Asia offers the solution.
Spain showed the rewards of being creative with its longest ever bond of the euro era on Monday, chopping €1bn from its funding needs with a deal that will mature when the eurozone debt crisis is a matter for history books, not newspapers. With more dovish measures possibly on the horizon at this week’s European Central Bank meeting, issuers could soon find that such deals are the best way to add some duration to their debt profiles.
World Bank sold a callable green bond to US retail investors this week as part of an effort to increase its presence in the US market. The structured print comes at a time of strong demand for callable notes from supranational and agency issuers, according to MTN dealers.
Kangaroos and Kauris — not dollars and euros — could grab the attention of supranational agencies in the coming months, with price rather than prodigious volumes likely to be the issuers’ focus as they flirt with near-completed funding targets. Jonathan Breen and Nathan Collins report.