RBC Capital Markets
-
Export Development Canada is set to become the fourth public sector borrower to issue a debut Sonia bond this year, after picking banks on Monday for a three year bond linked to the reference rate. Meanwhile, KfW will return for its second sterling benchmark of 2019, sticking with a five year maturity it issued in earlier in the month. -
Dollar SSA issuance picked up in earnest this week after a slower than usual start to the year, with a rich variety of borrowers printing deals, some in record size or with record books. Conditions are such that SSA bankers are confident supply will keep coming and demand stay high for the next few weeks — cheering news for one sovereign issuer looking to make a comeback in the currency.
-
A record start to the SSA sterling market came to a halt early this week, with borrowers avoiding prints as the UK Parliament delivered a historically large defeat to the government over its planned withdrawal agreement with the European Union. But once the big risk of the event was out the way, supply picked up — although with Brexit’s direction as uncertain as ever, further blocks to issuance are likely.
-
-
The new-look Fox Corp made its dollar bond debut this week as the technical backdrop in the investment grade continued to improve with tightening spreads and thinner new issue concessions.
-
The Province of Ontario will this Friday be the fourth SSA from Canada to visit a very strong dollar market this week, after CPPIB Capital printed on Monday, Alberta on Tuesday and the sovereign made a rare visit on Thursday. Dexia Crédit Local also printed in the currency on Thursday and SSA bankers are confident of more supply next week.
-
The super-hot dollar bond market is set to welcome a pair of SSAs on Thursday — including a rare name in the currency — after a mid-week lull in issuance.
-
Public sector borrowers printed over $10bn of bonds on Tuesday in a dollar market that SSA bankers expect to keep its momentum in the weeks ahead.
-
A senior equity-linked debt banker has left RBC Capital Markets.
-
UK housing associations are regular and popular users of the sterling corporate bond market. Friday saw the first deal of 2019 from the UK’s largest housing association and the deal proved demand had in no way waned.
-
-
