Top Section/Bond comments/Ad
Top Section/Bond comments/Ad
Most recent
◆ €18bn blockbuster executed in June ◆ Book size and quality both comparable to January ◆ Greece, Sweden to conclude sovereign pipeline for H1
◆ Lead points to high-quality book ◆ Subscription ratio slips from prior tap ◆ Maturity had 'pretty clear consensus'
‘Very normal market’ despite ongoing war and volatility to support another wave of new issues
Bankers say the ambition to price the first SSA bond through US Treasuries has faded as recent five year deals stall and barely perform in secondary
More articles/Ad
More articles/Ad
More articles
-
Rare sovereign, supranational and agency issuers, or more frequent borrowers looking for opportunistic deals, will find the euro market wide open this week, despite the Belgian national railway operator having to pull a deal on Tuesday. Issuance is particularly tantalising for borrowers from the eurozone periphery, after comments by European Central Bank president Mario Draghi late last week helped push periphery sovereign yields down to record lows.
-
Pakistan has set the final terms for its five year dollar benchmark sukuk. The deal will be between $750m and $1bn. Pricing is expected to follow on Wednesday in the early afternoon, London time. -
Instituto de Crédito Oficial saved precious basis points on Tuesday, printing a short two year deal against a backdrop of falling periphery eurozone sovereign yields following some very dovish comments by European Central Bank president Mario Draghi late last week — despite some ECB officials being more hawkish since. Spain also benefitted at a bill auction the same day, while Portugal lined up an exchange offer and Italy unveiled its target for a bond auction on Thursday.
-
Ethiopia is meeting investors for its long touted dollar bond debut. The strong African growth story, diversification play and JP Morgan EMBI eligibility left bankers in no doubt that demand for the offering will be robust, but debate has already started over where the deal will be priced versus neighbouring Kenya, which is also in the market.
-
When UBS exited the supranational and agency bond business in 2012 there were justifiable concerns that more and more dealers, straining under the cost of supporting this most important part of the capital markets, would follow suit. But the sector has changed — and even those dealers that left clients in the lurch should not be afraid to rebuild old relationships. They may even find themselves welcomed back with open arms.
-
Pakistan has opened books on a five year dollar benchmark sukuk, with pricing expected to follow on Wednesday.
