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
-
Spain wiped nearly 13bp from its three year borrowing costs at auction on Thursday, while investors lent Ireland three month cash for free. But periphery yields may have even further to fall, after take-up at the European Central Bank’s first targeted longer term refinancing operation fell below analysts’ expectations — suggesting the central bank might have to dip into its dovish box of tricks once again.
-
South Africa is set to price a $500m debut sukuk to yield 3.9% on Wednesday afternoon — a landmark deal in a continent enjoying an influx of Islamic money. But as with other inaugural sukuk offerings there was no hint of consensus over the sukuk’s concession to the conventional curve. -
The Republic of Turkey priced its ¥100bn ($933m) 10 year Samurai at 29bp over yen swaps offer on Wednesday. The bond is guaranteed by Japan Bank for International Co-operation (JBIC) which enabled the country to make a substantial saving on where a new dollar or euro bond would have come.
-
Sovereign, supranational and agency issuers with funding left to do should be able to take advantage of storming conditions in dollars in the coming weeks, once a series of events that could bring volatility late this week has passed. But bankers will be hard pressed to find issuers with benchmark funding needs.
-
The leaders of the UK’s three main political parties have signed a pledge guaranteeing extra powers for the Scottish parliament if the country votes against independence at a referendum on Thursday. But that leaves people in England facing the prospect of even more decisions being taken by politicians that do not represent them. The Westminster elite should provide the English with some guarantees of their own.
-
Luxembourg is kicking off investor meetings for the first euro denominated sukuk next week. Luxembourg is looking to become the leading Islamic financing hub in Europe.
