North America
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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.
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Bank and financial names led a dramatic revival in the dollar primary market this week, printing more than $20bn of bonds after a three week lull.
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On Thursday Intesa Sanpaolo gave US FIG markets its first tier one trade since August and ABN Amro is set to price an AT1 sale next week. With markets looking healthy, more capital trades could follow later this month.
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The pace of new exchange traded fund launches has slowed since the markets’ recent swoon, but issuers are betting that investors will be coaxed by new offerings with hedged currency risks. -
The International Finance Corp (IFC) priced its second ever Islamic bond deal on Tuesday, a rare amortising sukuk and one of two SSA Islamic deals scheduled for September.
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CME Group will launch seven year and 20 year US dollar deliverable swap futures later this month, on September 28, adding to its suite of tenors for the contract.
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Calm returned to US large cap stocks this week, but implied volatility measures have remained higher than pre-spike averages as investors remain cautious ahead of the Federal Reserve’s meeting next week.
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Mizuho has hired Richard Thompson as co-head of US private placements.
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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.
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Caisse Centrale Desjardins (CCDJ) launched a two year floating rate note on Wednesday, making itself a belated addition to last week’s list of Canadian banks printing euro floaters.
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The International Finance Corp (IFC) opened books on its second ever Islamic bond deal on Tuesday, a rare amortising sukuk and one of two SSA Islamic deals scheduled for September.
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Barclays began marketing a multi-tranche Samurai trade on Monday, as some FIG bankers claimed European banks were still baulking at the new issue premiums being offered by US visitors to the euro market.
