NatWest Markets
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Undeterred by some investor wobbles around appetite for long dated maturity, Irish state electricity company Electricity Supply Board (ESB) came to market on Tuesday with a €500m 15 year bond. -
Italian energy company Enel on Thursday completed a €1.26bn exchange offer that strengthened the return of debt-backed tender offers in the European corporate market.
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DBS Bank in Singapore this week issued its first deal in Australian dollars, the first covered bond from an Asian lender and the first benchmark sized Kangaroo covered bond of the year.
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FCE Bank, the finance subsidiary of Ford, paid a visit to the sterling bond market on a day when much of Europe was celebrating the Corpus Christi public holiday.
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A remarkable week for public sector dollar issuance could lead into an even more impressive spell, after the release of hawkish US Federal Reserve minutes moved the 10 year part of the curve tantalisingly close to borrowers’ grasps. Craig McGlashan reports.
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Italy sold a super rare short-dated syndication this week, but a debut 50 year benchmark — a growing trend for sovereigns this year — looks to be some way off.
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Italy brought a rare syndicated effort at the short end of the euro curve on Wednesday, but there was little sign that the unorthodox approach disturbed investors as it built an oversubscribed book at a punchy price.
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Export Development Canada is set to join what one SSA banker described as a “ridiculous” dollar market, where issuers are selling in big size and with little or no new issue premiums.
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Public sector borrowers are taking advantage of some of the best conditions in the dollar market all year to print jumbo sized deals at the tightest spreads to US Treasuries in months.
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After the extremes of recent weeks, with enormous order books and sometimes negative new issue premiums, Europe’s corporate bond market has reached a steadier cruising speed this week.
