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SSA MTNs and CP

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  • Propertize will look to commercial paper to complete its 2014 funding, GlobalCapital understands. The borrower has sold €750m in the market so far, but will find stronger demand at the beginning of April, according to MTN dealers.
  • Investors are keen for structured medium term notes from supranationals and agencies, but the deals are hard to source, according to MTN dealers.
  • Brussels-Capital Region wants to raise €70m in private placements by April 8 but is receiving more inquiries for longer tenors than it wants to print. French regions could look to take advantage of the excess demand and print longer notes, according to medium term note dealers.
  • Canada is considering selling more euro medium term notes (EMTN) after dipping its toes back into the market for the first time since 1997. But bankers disagree over the level of investor interest the sovereign will find.
  • There was plenty of demand for long dated notes in sterling this week. While Mexico kept the public market busy, Transport for London took advantage of interest to debut in the private placement market with what bankers believe is the first 50 year sterling private placement since 2010.
  • There will be fewer private placements from Spanish regional issuers in the coming weeks, according to medium term note dealers. But the bankers are divided as to whether this is investor or issuer driven.