News content

Bankinter will begin meeting investors for a sale of additional tier one bonds on Wednesday, while fellow Spaniard Banco Sabadell and Italy’s UBI Banca are also set to issue capital in the next few days.

Oman has picked banks for its debut international bond three months after signing its first loan.

China is moving forward with plans to open an international bond marketplace in the Shanghai free trade zone (FTZ), with sources telling GlobalRMB that Euroclear is set to link the onshore platform with offshore investors. Separately, plans by competitor Clearstream to help global investors gain standardised access to the China interbank bond market (CIBM) are slated for an October launch.

BNP Paribas and S&P Dow Jones Indices (SPDJI) launched a new index focusing on what it calls the “new China” economic sectors. A-shares, which could be included later this year in the MSCI emerging markets indices, make up a quarter of the new benchmark.

In this round-up, South Korea RMB deposits picked up, while Macau and Taiwan saw a slight contraction, BRICS NDB approved its first loans, Chinese and Russian regulators are expanding their co-operation agreements, and Euronext started providing market data directly to onshore investors in China. Plus, a recap of GlobalRMB's top stories this week.

FIG bankers took a breather on Thursday after a frantic week across dollars and euros, but the pace of issuance is expected to swiftly ramp up again after the European Central Bank’s latest policy decision.

Investors threw more than €6.5bn at a perpetual non-call five year additional tier one trade from Rabobank on Tuesday, the bank’s first such deal since it revised its governance structure.

Two Middle Eastern issuers have mandated bonds this week as the Lebanese Republic launched a $1bn note "for the people, by the people".

Despite Argentina soaking up $16.5bn of demand, other emerging market issuers also recorded high levels of oversubscription this week, suggesting EM is awash with cash and ideal conditions for the healthy pipeline of issuers due next week.

Several covered bond issuers have removed the swaps in their covered bond programmes in the face of onerous regulatory obligations. This has improved their funding efficiency and given investors a less risky, more transparent and potentially higher yielding product. Others should follow.

FIG bankers were taking a breather on Thursday amid a frantic week across dollars and euros, but the pace is expected to swiftly ramp up again after the European Central Bank’s latest policy decision.

Turkiye Vakiflar Bankasi (Vakifbank) will open books next week on its inaugural covered bond, according to a official at the bank.