Nomura
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Online payments platform Yeahka has begun stirring up investor interest in its Hong Kong IPO, which is set to be launched next week, according to a source close to the deal. -
Five public sector borrowers are marketing dollar bonds across the curve kicking off what it is expected to be a busy week in the currency.
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Despite a crash in dollar swap spreads as the US Treasury announced a record borrowing binge this week, SSA bankers remain bullish on supply, with KfW rumoured to be plotting a return to dollars after leaning heavily on euros for its benchmark funding this year.
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World Bank has picked banks for a 10 year dollar benchmark — the first in the SSA market since October 2019. The bond is a sustainable development bond, focusing on the health and well-being UN Sustainable Development Goal.
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Pension Insurance Corp was almost 12 times subscribed for a new tier two capital bond on Thursday, after following some of its UK peers into the sterling market amid a busy pipeline for new pension risk transfer deals.
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Legal & General and Phoenix Group Holdings have lifted the lid on subordinated bond supply in the sterling market this week, with spreads having drawn tighter despite uncertainty about the impact of the coronavirus pandemic.
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Some Asian sovereigns are at risk of being pushed out of investment grade territory as the Covid-19 pandemic takes a toll on their economies. India and Indonesia are of particular concern, with fears high that they are close to becoming fallen angels.
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Asian Development Bank (ADB) and Agence Francaise de Developpement (AFD) hit the market for dollar paper on Tuesday, with the Manila-based supra going for five years and the French agency opting for three years.
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Any concerns over Italy’s market access were vanquished on Tuesday when the sovereign received €110bn of orders for a dual tranche bond syndication, allowing it to raise €16bn as it makes inroads into its enlarged funding task in response to the coronavirus pandemic.
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CPPIB Capital, the Canada Pension Plan Investment Board, dived into the long end of the sterling bond market on Monday for a bumper follow-up to January’s jumbo debut.
