Pre-migration untagged articles

The European Financial Stability Facility (EFSF) became the latest SSA issuer to trawl the euro markets for cash on Wednesday, launching a 10 year bond — the third SSA mandate of the week in euros. But the dollar market is quieter as anticipation of supply keeps spreads too tight to issue.

Issuance from financial institutions is stepping up, with ABN Amro mandating for a tier two roadshow and Royal Bank of Canada about to announce the first US dollar SEC registered covered bond.

Investor appetite for corporate risk shows no sign of letting up, with US agricultural commodities trader Cargill and German carmaker Volkswagen able to sell deals this week with little or no new issue premium — and chunky books.

Hope is spreading among syndicated loans bankers that September will spark a pick-up in deal volumes that will continue into the final quarter. And lenders say the Middle East is where the most interesting action will be.