RBC Capital Markets
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Eurofima is set to become the latest issuer to sell in dollars this week, with what will be its first deal in the currency since a $1bn three year in May 2010. -
Public sector issuers underlined the strength of demand in the dollar market this week as issuers were able to get benchmarks away despite volatility in US Treasuries.
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BMW issued its first public sterling bond of the year on Tuesday, achieving an attractive arbitrage against euros for a long five year maturity, according to bankers away from the deal.
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The public sector dollar bond pipeline for Wednesday is filling up, with a series of issuers set to follow a three year dollar benchmark from the European Investment Bank on Tuesday.
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L-Bank mandated banks on Thursday for its inaugural Kauri bond, while Export Development Canada opened a tap of a 2019 Kangaroo.
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KfW drew strong central bank interest for a sterling tap on Tuesday, becoming the first SSA to print in the currency since last week’s UK general election.
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Swedbank returned to covered bonds on Wednesday for its third funding exercise of the year, deciding to launch in Reg S format for its first dollar benchmark of the year instead of using its 144A programme. The decision came as the euro rates markets suffered a further bout of intraday volatility following last week’s instability.
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Dufry – HES Beheer – BCA Marketplace – Club Med – Grupa Azoty – International Bank of Azerbaijan – Kungsleden – UBM Group – Oriflame
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HES Beheer, the Dutch ports logistics company, is closing books on its €100m add-on loan on Thursday, with the original issue discount still undecided.
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FMS Wertmanagement surprised dealers on Wednesday by mandating for its first Kangaroo bond in more than three years.
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RBC Capital Markets has added to its credit sales effort in Frankfurt with a senior hire.
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