Nomura
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Two SSA borrowers sold dollar paper on Thursday. Council of Europe Development Bank achieving the tightest spread to mid-swaps from a public sector borrower this year, breaking a record equalled earlier this week by Asian Development Bank. At the other end of the curve, Inter-American Development Bank made its debut at the 10 year maturity with a deal linked to the Secured Overnight Financing Rate (Sofr). -
The Council of Europe Development bank will come to market on Thursday for a $500m no-grow social inclusion bond maturing in June 2024.
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Banks have enjoyed a hot funding streak in the sterling market in recent weeks, with pent up demand pushing supply towards its highest year in over a decade. Some market participants, however, are worried the superlative conditions might vanish just as quickly as they appeared.
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Crédit Agricole issued a callable Samurai bond this week that will reset to a spread over the local government bond curve, as the yen market transitions away from Libor ahead of its cessation later this year.
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Silicon wafer maker GlobalWafers raised $1bn this week from its debut in the equity-linked market, selling the largest convertible bond from a Taiwanese issuer in more than a decade.
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The UK issued a £4bn index-linked Gilt maturing in 2039 on Tuesday, experiencing hot demand as investors flocked to secure protection from the threat of inflation.
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CaixaBank was set to launch its first sterling bond on Tuesday as it dipped its toes into a market that is now on course for its busiest week this year to date.
