Nomura
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The end of the Japanese financial year and strong demand from global asset managers propelled long dated paper in the Kauri and Kangaroo markets to success in the last two weeks. -
Asian Development Bank printed a A$225m ($170.8m) 10 year bond on Thursday, the largest issue size in this tenor from an SSA borrower in the Australian dollar market since 2014.
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The short end of the dollar curve is enjoying a purple patch, with public sector borrowers drawing big books and pricing with much lower new issue premiums than earlier in the year.
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Portugal breathed some liquidity into a pair of outstanding bonds on Wednesday with its first syndication since January, achieving much lower premiums than its last syndication, according to bankers.
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Asian Development Bank (ADB) has a launched a new 10.5 year Kangaroo note on Wednesday, highlighting the demand for high grade names in that market.
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The Inter-American Development Bank highlighted the depth of demand in a resurgent dollar market by printing the largest benchmark in the currency in over a month — with KfW next up to test the dollar’s depth.
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Portugal is lining up for its first test of the syndication market since the European Central Bank announced its latest round of monetary easing measures a month ago — measures that have had less effect on Portugal than its periphery peers.
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The Inter-American Development Bank made an early claim on Monday for a spot in this week’s dollar issuance, in what its leads said was a move to ensure it did not add its name to a growing trend for SSA deal clashes.
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A quartet of SSA issuers printed Kangaroo bonds this week, helping push Kangaroo bond volume for March to a monthly level not seen in a year.
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Ireland used a private placement to sell its first ever 100 year note, the country’s National Treasury Management Agency said on Wednesday.
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Kia Motors Corp is ready to hit the road for a 144A/Reg S bond that could come to the market as early as mid April.
