Top Section/Bond comments/Ad
Top Section/Bond comments/Ad
Most recent
'Everyone is ready for summer to be over' as SSA wave builds for Monday
Analysts discuss the scope of tightening in Bund swap spreads and the impact on SSA spreads
OATs and OLOs could weaken further versus Bunds while southern European countries and EU continue to paint a positive picture
Uncertainty looms large as presidential race far from clear and budget negotiations potentially ‘highly challenging’
More articles/Ad
More articles/Ad
More articles
-
SSA issuers are queuing up to print new business after a week that saw a rampant dollar market which included $10bn of new funding for the EIB and KfW and the first Spanish dollar trade in four years, and a euro market which gobbled up a new Belgian OLO and forgave Agence Française de Développement for attempting too tightly priced a deal a fortnight ago (see separate coverage).
-
The Slovak Republic sold its first syndication of the year this week — a €1.75bn 10 year which was priced well through initial price thoughts. The deal takes the sovereign over half way towards its €8bn funding target for 2013. It is eyeing 15 year and five year euro trades, as well as a possible Swiss franc deal, to help it reach the finish line.
-
The dollar market proved a fertile hunting ground for high grade SSA issuers this week as central banks and bank treasuries globally sought to load up on product, resulting in bumper transactions from the European Investment Bank, KfW and the Kingdom of Sweden, which collectively issued $13bn of debt in just 48 hours at minimal new issue premiums.
-
Kingdom of Belgium and Agence Française de Developpement enjoyed strong demand for five year euro benchmarks this week, but new issue premia of 3bp-4bp apiece showed that the merry days of January are long gone for euro issuers. Nonetheless a pair of oversubscribed deals bodes well for a bevy of sovereign issuers that are eyeing up euros for next week and beyond.
-
The Export-Import Bank of Korea (Kexim) on Wednesday became the country’s first green bond issuer with a $500m SEC registered offering via Bank of America Merrill Lynch and SEB Enskilda.
-
The Kingdom of Spain exceeded its maximum target at a bond auction on Thursday morning, following soon after its return to syndicated dollar issuance on Wednesday (see separate story). The Iberian sovereign had targeted a maximum of €4bn but placed just over €4.2bn.