News content

BRFkredit, the Danish mortgage bank, has mandated leads for a roadshow and aims to issue its second euro benchmark covered bond.

Westpac New Zealand’s €750m five year this week attracted the largest order book and was priced at the tightest ever spread for a New Zealand covered bond. Bank of New Zealand is set to follow.

After a stellar book for Novolipetsk Steel's (NLMK) new issue on Wednesday, trades from Sovcomflot and Evraz on Thursday morning will test the true level of investor appetite for Russian corporate debt.

Despite the recent rush of Russian corporate bond activity — three new issues are expected this week — the sector still has its outliers with Far Eastern Shipping Company (Fesco) receiving a downgrade from Fitch on Tuesday to restricted default after missing a coupon payment last week.

Novolipetsk Steel’s book build was a riot on Wednesday morning as investors clamoured to get hold of paper from the first of the three Russian corporates carrying out liability management exercises this week.

The Taiwan Futures Exchange (Taifex) is set to launch the first exchange-traded options on RMB rates this month, the exchange told GlobalRMB. Taifex is also seeking regulatory approval to launch more A-shares index futures.

Indonesia returned to euro-denominated bonds on Tuesday. It will still have to pay up over its dollar curve, according to EM bankers, despite the low yields in euros.

Commercial Bank of Qatar shrugged off signs of fatigue after $24bn of GCC supply this year to print a $750m five year on Monday.

While opinions range on how appropriate it will be for MSCI to go ahead with the inclusion of A-shares into its global benchmarks, the index provider has been giving greater space to US-listed Chinese stocks. But despite the decision on A-shares being just over a week away, market participants are still weighing the pros and cons.

Commercial Bank of Qatar is on track to print a new five year deal as bankers question whether the market is showing signs of too much supply.

USAID has extended a $500m guarantee that will enable Tunisia to access affordable financing from the international capital markets, after plans for standalone access were put on hold in April.

HSBC has announced the structure of its newly combined global banking division, which merges the old capital financing and banking divisions, following the appointment of Matthew Westerman as new co-head of the combined business. The six product teams in capital financing, and the six sector coverage teams in banking, will be replaced by nine combined groups in the new division.