Top Section/Ad
Top Section/Ad
Most recent
An public sector issuer breaking a record with a deal this week became so common a claim it began to sound like, well, a broken record. But questions remain about how robust demand really is
Markets ‘not out of the woods yet’ as large sovereigns shorten execution process to de-risk issuance
Huge order book allowed the issuer to increase size of five year dollar trade
Issuer had already pre-funded in dollars earlier this year
More articles/Ad
More articles/Ad
More articles
-
The State of Lower Saxony mandated banks for a new eight year benchmark euro deal on Monday, the first benchmark fixed rate bond from a German state since the start of June.
-
Quebec sold its first euro denominated bond in more than four years on Wednesday, placing €1bn of 10 year debt. While funding costs for Canadian issuers in euros are not as attractive as when Quebec last tapped the market, the issuer was keen to maintain ties with European investors for diversification purposes.
-
The Russian sovereign is a notoriously inflexible and aggressive issuer — but a much sought-after client. It has yet to pull the trigger on its 2013 bond issue but could press ahead soon, betting on further US Treasury rate rises, or hold off, in anticipation of a fall. Francesca Young looks at how the country will deal with the challenge of EM volatility.
-
The State of Rhineland-Palatinate and NRW.Bank both sold floating rate debt at the short end of the curve on Monday, with Rhineland-Palatinate opting for a new two year euro bond while NRW.Bank chose to increase its recent three year euro deal.
-
Three borrowers are all contenders for summer benchmarks despite the volatility generated in the Portuguese government bond market this week following the resignation of two government ministers. The prospect of continuing supply after a volatile few weeks will come as encouraging news to market participants who in previous years have seen bad news on one peripheral eurozone sovereign shut down the entire SSA market.
-
The Canton of Zurich sold Sfr1.01bn ($1.07bn) of debt on Tuesday across four tranches, selling two, nine, 13 and 25 year bonds. The 25 year bond, brought in response to reverse inquiries, came as a surprise to the bookrunners in light of rising interest rates in recent weeks.