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Roundtable: Japan’s SSAs focus on flexible strategy, short tenor bonds to navigate choppy markets
Japan’s sovereign, supranational and agency (SSA) borrowers continue to be among the most highly regarded issuers in global debt markets, supported by strong credit fundamentals and deep domestic demand. But with a complex geopolitical background, diverging global monetary policies, the Bank of Japan’s policy signals, and recent elections in the country, issuers are operating in an unpredictable environment.
Bank completes more than half its annual funding before first quarter blackout
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CDC lands €1bn at single digit spread over OATs
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Bank completes more than half its annual funding before first quarter blackout
Sub-sections
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◆ German grid funds capex drive with dual tranche hybrid ◆ Demand holds firm despite aggressive tightening ◆ Deals land close to fair value -
At London investor day, supranational reveals deals and plans for new funding and investments, including fully African project financing
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◆ ASN's tightest senior bond since 2021 ◆ Dutch lender becomes only the second FIG borrower to have issued more than one European Green Bond ◆ Deal comes hours before 'massive rally' ensues from opening of Strait of Hormuz
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◆ Austrian lender's first bond issue of the year ◆ Achieves investor diversification beyond core buyers in DACH, says lead ◆ Moves pricing more than most of its past senior trades
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◆ Bond tightens in grey market after record Treasury level ◆ Goldilocks scenario drew investors ◆ Canadian SSAs back in dollars
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◆ Issuer’s first EuGB hybrid 10 times covered at peak ◆ Tight senior/sub spreads attractive for issuers... ◆ ...while solid yields entice investors
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Fund modelled on Romania’s Fondul has $2.4bn of assets
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State of New Hampshire's innovative bond gets Ba2 rating
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Shares in company, which manufactures underwater mine disposal drones, have risen by close to 50% this year
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Renewables can make Europe’s capital markets less vulnerable to energy price shocks
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High demand from institutional and retail investors for maker of Patriot missile components
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Book to open on Monday, close on Thursday in latest express IPO
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Nigeria plans a total return swap, following peers on the continent in the last 12 months
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The DRC has a poor governance record but that doesn't mean things will end in tears for its investors
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Demand allowed the bank to cut the yield by 35bp
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The country offers huge potential and possible pitfalls for investors
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A piece of very rare African senior bank issuance could also come this week
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Central banks in the region have stepped in with support and lenders are thought unlikely to let sub debt extend
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In an age of abundant information and opinion, where much of it is wrong, smart investment bankers can still be valuable to clients by embracing the complexity
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Bot claims funding is ‘cheaper than peers who borrow from independent banks or credit funds’
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Even if ceasefire succeeds, investors will still want a risk premium
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Paper and pulp maker Sappi is raising a new €250m senior five year non-call two bond, looking to shore up its already ample corporate liquidity, following an existing agreement with its revolving credit facility (RCF) lenders to waive covenants until March next year. But despite the company’s actions, its outstanding bonds are quoted as low as 80, meaning it will likely have to pay up.
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Indonesian palm oil producer Perkebunan Nusantara III (PTPN) is seeking consent from banks to delay payments on a dollar loan, given expectations of a hit to its business because of the Covid-19 pandemic. But bankers told GlobalCapital Asia this week that the state-owned company has enough cash to make the payments, with the syndicate team set to reject its deferral request. Pan Yue reports.
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Euro area banks are expected to make use of the relaxation of their Pillar 2 capital requirements by issuing more capital instruments in the coming months, following the example set by Deutsche Bank this week.
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Sponsored by Crédit Agricole CIB
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Sponsored by Islamic Development Bank (IsDB)
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
