RBC Capital Markets
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A sterling floater from the European Investment Bank would not normally set tongues wagging across capital markets but the supranational’s upcoming deal is an exceptional case. The bond is a test case for what is expected by many to become the new market standard for the format, writes Lewis McLellan. -
The European Investment Bank has released initial price thoughts for a sterling benchmark floater referencing Sonia — a trade that dominated many conversations at this week's Euromoney Global Borrowers conference in London. The deal will be priced on Friday.
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After an absence of more than two years, Royal Bank of Canada this week issued its first covered bond in euros, attracting a comfortably oversubscribed order book for a €1.5bn deal which was priced with a skinny new issue concession.
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The European Investment Bank has hit screens for the first sterling floating rate benchmark designed for a post-Libor world.
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CPPIB Capital achieved a double whammy with its debut green bond this week, bringing the first international sale of a green bond by a pension fund that grew into the largest ever green bond in Canadian dollars.
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CPPIB Capital will sell its first ever green bond this week, coming on the heels of a French region’s foray into green and sustainability bonds.
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KfW opened the door for dollar issuers after a quiet few weeks in the currency, although the issuer — and SFIL, which followed it — had to navigate some price discovery after last week’s Italy-led volatility.
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KfW reopened the public sector dollar market on Wednesday by picking up a hefty $4bn from a well oversubscribed book. Société de Financement Local will be next up, after mandating banks for a trade.
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KfW will bring what bankers say will be the first “real jumbo test” for the market since a wave of Italy-led volatility hit bonds last week.
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GDS Holdings added some much-needed diversity to Asia’s equity-linked market with its first print in the format on Thursday, which proved a hit with investors.
