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  • Nordic Investment Bank re-entered the euro market with its first syndication in the currency in six years on Thursday — a seven year green bond.
  • Brazil’s downgrade to junk will come as little surprise to market observers, given the increasingly bearish sentiment seen in Brazilian sovereign bonds.
  • Intercontinental Exchange expects to launch its ICE Futures Singapore and ICE Clear Singapore platforms on November 17 with five new contracts.
  • Ireland has cut its 15 year borrowing costs at its biggest auction of the tenor this year, as Italy prepares to tempt investors even further out the maturity curve.
  • Shanghai Pudong Development Bank Co (SPDB) roared into the market on Wednesday, finding huge success with its debut $500m deal. The issuer managed to find the perfect window to execute its trade, tightening pricing aggressively but still ending up with a quality book.
  • SSA
    The Catalan election on September 27 is barely a blip on most investors' radars. But the result could cause a severe shock to Spain's national debt.
  • Asia’s dollar bond market finally sprang to life this week with a trio of investment grade names successfully pricing deals. Participants are now hoping that the market is open for business, but lingering volatility means trades will come with a bigger price tag, write Narae Kim and Rashmi Kumar.
  • China Securities (International) Finance Holding Company has opened books for its debut offshore bond, while Qingdao City Construction Investment (QCCI) is planning to issue a senior perp for its second international outing this year.
  • Many emerging markets and developing countries are in the process of setting up, or have set up covered bond regimes, said Loic Chiquer, chief technical specialist at the World Bank. Speaking at the European Covered Bond Council plenary session on Wednesday, Chiquer painted a bullish picture for the continued globalisation of covered bonds.
  • FIG
    Intesa Sanpaolo will price a 10 year AT1 note this week, becoming the latest European bank to enter the capital market after ABN Amro announced its inaugural euro AT1 deal yesterday morning.
  • The latest term sheet for Total Loss Absorbing Capacity, set to be published by the Financial Stability Board this autumn, may end up pitting regulators against one another, as authorities compete to decide which parts of global banks can absorb losses in a crisis.
  • Debt bankers close to Etihad Airways’ structured bond deal are expecting investors to ask for a 50bp premium on top of the fair value yield, while interested fund managers have started price analysis in earnest.