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◆ Issuer's second largest book ever ◆ Last benchmark of year ◆ Average NIP has shrunk this year
◆ Big 10 year printed, spread tightened 2bp ◆ Successful return after recent blip ◆ ‘Very solid market conditions’ confirmed
◆ Young issuer adds new currency ◆ €9bn book for €500m print, no NIP needed ◆ Results 'simply beyond what was expected'
More articles/Bonc comments/Ad
More articles/Bonc comments/Ad
More articles
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As volatility continues to plague the US Treasury market, public sector issuers have found themselves at the centre of attention of investors seeking high quality, liquid assets as an alternative investment to US Treasuries. Market participants eagerly await further evidence in the coming months of any meaningful shift in investors’ behaviour. The early signs are certainly encouraging, writes Addison Gong -
Enjoy the roaring markets while you can, they won't last long
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◆ First dollar benchmark of 2025 ◆ Tight spread to US Treasuries like peers ◆ Large book supports 4bp tightening
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◆ Book was one of largest ever ◆ Good window, spotted ◆ Spread versus peer made sense
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◆ Old tier two call date approaches ◆ Tier two pick-up over senior gets tighter ◆ Wide range of feedback but ‘can’t compare this to anything’
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by European Investment Bank
European Investment Bank: Supporting sustainable development in North Africa
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