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Sub-sovereigns

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◆ New issue premium estimated ◆ Partial pre-funding ◆ Baden-Wuerttemberg 'through fair value'
◆ Attractive pick-up to KfW and other peers ◆ Atypical tenor no trouble ◆ SSA appetite strong
SSA
Pan-European stock exchange shares what was behind its recent decision to launch a defence bond label, how it may help both issuers and investors, and what lies ahead
◆ 'Amazing,' says rival banker ◆ Lack of 10 year issuance helped ◆ Pipeline for next two weeks 'looking good'
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  • Three SSA issuers brought dollar deals to market on Wednesday, hitting screens in a variety of formats and tenors, making the most of excellent conditions to pull off impressive deals. A fourth is lined up for Thursday.
  • The Province of Quebec has hired banks to lead a new Canadian dollar green bond — its first since the start of last year.
  • SSA
    The European Investment Bank and the Province of Quebec were well subscribed as they re-opened the dollar SSA market following the extended Lunar New Year holiday. Two more public sector borrowers will follow with dollar bonds on Wednesday, ahead of what is expected to be a busy month in the currency.
  • SSA
    Finland received record demand for its first syndication of the year on Tuesday. The sovereign was joined in the long end of the curve by the State of North Rhine Westphalia as it tapped its February 2038s.
  • SSA
    The Republic of Finland and the State of North Rhine Westphalia hired banks on Monday to prepare syndicated bonds at the long end of the euro curve. Yields of eurozone haven assets remain compressed while fears of the coronavirus outbreak intensify.
  • The first bond from the UK’s five year old Municipal Bonds Agency will be launched in the next week or two and, thanks to some tweaking of the agency's operating practices, more are set to follow, writes Lewis McLellan.