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Portugal and KfW lead euro supply with five year as dollar market focuses on second AfDB hybrid
◆ Tightest 10 year Länder bond this year ◆ Big book leads to 4bp spread move ◆ Deal still three times covered, green element was key
◆ One deal was judged ‘relatively tight’... ◆ And the other ‘definitely cheap’... ◆ ... though fair value tough to spot
Issuance recovers from last week’s wobble but concerns linger after issuers like KfW widen
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The Greater London Authority has sold the first ever sterling bond linked to the UK’s consumer price index (CPI) measure of inflation.
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The Finnish City of Seinäjoki made its capital markets debut this week with a €40m private placement as the country’s municipalities increasingly show interest in accessing the bond markets directly.
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The dollar market is providing public sector issuers with an opportunity for primary issuance as other major currencies — euros and sterling — are wracked with uncertainty.
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Finnish municipality City of Seinäjoki debuted in the capital markets this week, as interest grows among the country’s municipalities to access the markets directly.
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HSBC has named a new global head of debt syndicate to replace Jean-Marc Mercier, who moved over to debt capital markets this week.