Nomura

Municipality Finance raised €1bn on Thursday with a short 10 year bond that was, according to head of funding Joakim Holmström, the agency's top priority for the quarter.

Royal Bank of Canada, Canadian Imperial Bank of Commerce, Commonwealth Bank of Australia and Deutsche Pfandbriefbank tapped the sterling covered bond market this week at cheaper levels than they could have achieved in euros and dollars.

Inter-American Development Bank and World Bank opened the Kangaroo market with five year prints on Wednesday and Thursday respectively. Unexpectedly strong Australian investor support made World Bank’s trade the largest SSA offering since July.

Bharat PetroResources has become the first Indian issuer to set out plans for a dollar outing this year, with roadshows due to wrap up early next week. With the Chinese New Year holidays expected to keep many mainland issuers at bay, DCM bankers said Indian firms will make up some of the shortfall. Morgan Davis and Addison Gong report.

A dual tranche global deal from the Asian Development Bank on Wednesday at least temporarily dashed hopes that this year could be strong for 10 year dollar benchmark issuance — although some bankers away from the trade felt that the problems were idiosyncratic rather than reflective of demand.

KfW and Ireland brought euro deals on Wednesday at the very top end of size expectations, alleviating a little of the pressure on what is set to be an extremely busy year in the currency. The trades came the same day as Municipality Finance mandated for a euro benchmark and a request for proposals came from the European Financial Stability Facility.

KommuneKredit and the Asian Development Bank (ADB) will reopen the dollar market for SSA borrowers on Wednesday. Meanwhile, the EIB is lining up to perform the same service in sterling bonds.

The Indian government is aiming to add around Rp10bn ($146.9m) to its coffers from a sell down of shares in Housing and Urban Development Corp, said a banker working on the deal.

India’s two main stock exchanges are set to start 2017 on a positive note, with Bombay Stock Exchange (BSE) likely to launch a $200m deal this month and National Stock Exchange (NSE) bringing a jumbo $1bn IPO in the second quarter.

World Bank added an A$75m ($56.2m) tap to its November 2031 Australian dollar bond on Tuesday. The original bond was the first time an SSA had printed a Kangaroo benchmark that far out along the curve.

World Bank added a A$75m ($56.2m) tap to its November 2031 Australian dollar bond on Tuesday. The original bond was the first time an SSA had printed a Kangaroo benchmark that far out the curve.

CEE insurer Eurohold Bulgaria has opened books on a five year Eurobond at low to mid 8%. The unrated issuer is expected to print as early as this week.