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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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  • Four issuers, sovereign and sub-sovereign, are drawing closer to their debuts in China’s Panda bond market, as they seek to take advantage of falling yields in the Mainland, sources told GlobalRMB.
  • The San Francisco Public Utilities Commission (SFPUC) is looking for international buyers of its green bonds for the first time as it prepares a roughly $402m new issue.
  • SSA
    The State of North Rhine-Westphalia’s decision to tap into a glut of long end euro demand won the praise of BondMarker voters, as it fell just short of an average score of 8.0.
  • SSA
    A long dated euro benchmark from Quebec had the strongest scores of the week on BondMarker.
  • SSA
    A German sub-sovereign astonished the SSA market this week, selling a 50 year benchmark to show that, despite the expectations of rising rates in euros, some investors at least are still happy to put money into assets at the ultra-long end. Lewis McLellan reports.
  • SSA
    The State of North Rhine-Westphalia has launched its first ever 50 year benchmark, coming to market just as Bank Nederlandse Gemeenten landed at the short end.