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◆ Spread to Land Hessen key to pricing ◆ Leads thought long and hard on whether to tighten ◆ 1bp move the right amount as book grew
◆ Three German states brought a new Joint Länder bond ◆ No book update, KfW curve guides pricing ◆ Flemish Community prints new 15 year
Second digital project won’t be the issuer’s last, Länder peers may be ‘interested and willing’ to join in
◆ Half-year close keeps some issuers on sidelines ◆ Bankers expect big euro supply to come ◆ More concession on pricing could be required
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The Province of Alberta has announced its financing requirements for the next few years, which will be met with benchmarks in a range of currencies, medium term notes and structured issues.
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The Public Works Loans Board has given investment banks and asset managers the Christmas present they have been praying for for years. By hiking the cost of loans to local authorities, it will force them into private capital markets. Big mistake.
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Libor may be extended beyond the cut-off date of 2021, sources told GlobalCapital this week, as the market braces for litigation over more than $1tr of Libor-linked mortgages. Tom Brown reports.
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The Inter-American Development Bank and the State of North Rhine-Westphalia only managed to raise small sizes in the sterling market on Tuesday, with the leads on the latter declining to comment on whether the deal was fully subscribed.
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The State of North Rhine-Westphalia (Land NRW) mandated banks on Monday for its debut Sonia-linked floating rate note, following its compatriot NRW.Bank, which sold its first trade in the format last week. The region has also decided to no longer use money market instruments for funding and liquidity management.