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Sovereigns

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SSA
Belgium and two European agencies also mandated, even as the US and Iran failed to reach a peace deal
‘Whole curve open’ for SSA issuers but seven year point stands out as ‘interesting’ spot amid euro curve shape shift
CEE
Estonian sovereign outing its first under local law
◆ Sovereign serves up first 30 year SSA deal in two months ◆ Cost-sensitive issuer opts for limited size ◆ Very small NIP, even by German standards
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  • Portugal is set to buy back bonds maturing over the next three years as its yields dropped to two week lows on Tuesday.
  • SSA
    Any fears that investors might be nervous about sterling bonds in the run-up to the UK’s referendum on European Union membership eased with a pair of deals on Tuesday.
  • Peru opened books on its second euro deal in four months on Tuesday, after announcing an investor call on Monday which caused its secondary curve to widen 20bp.
  • The Kingdom of Bahrain has returned to tap bonds less than a week after an unexpected Standard & Poor’s downgrade led to the issuer cancelling a $750m dual tranche bond increase. Rival bankers said the strategy was right, but were surprised by the tight pricing offered.
  • Spain's spread over Italian bonds could widen further as investors fret over its finances while responding positively to the reforms led by Italy prime minister Matteo Renzi, despite Spain shrugging off a move from positive to stable outlook from Moody's late last week.
  • SSA
    A plunge in sterling’s value on Monday after the UK government picked a date for the country’s European Union membership is unlikely to stop SSAs adding to a record breaking year in the currency so far, said bankers.