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Duration is selling off, but all the rage in the primary market. The EU could be tempted to follow the UK and Spain to the long end
‘Very important transaction’ for the DMO in meeting investor needs where they are, says debt chief
Tight spreads, higher yields lead to cautious approach from investors, observed issuer
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The Council of Europe Development Bank has picked the banks to lead its first dollar benchmark of the year, in what will only be the second public deal in the currency this week. -
A pair of SSA borrowers hit screens on Wednesday for green euro benchmarks. However, one has decided that its marketing process will be entirely conducted over the phone.
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The European Bank for Reconstruction and Development took a huge order book for its Sonia-linked floating rate note on Wednesday, which introduced a new coupon calculation methodology for the sterling risk free rate. But market participants away from the deal said the demand did not reflect broad approval of the new format among investors.
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The Islamic Development Bank hit the market for a five year dollar benchmark on Wednesday, raising $2bn at a spread of 40bp to mid-swaps.
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Madrid hit the market with a 10 year sustainable bond on Tuesday, raising €1.25bn at its tightest ever spread to the Spanish sovereign, selling into its largest ever book.
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Belgium was able to print a large 20 year benchmark bond on Tuesday, pulling in a book of €27bn. But despite the size of the demand, investors were reluctant to follow the price more than 1bp from initial guidance.
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Sukuk market’s next chapter: Financing the future, sustainably
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Sponsored by European Investment Bank
European Investment Bank: Supporting sustainable development in North Africa
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