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Sub-sovereigns

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Canadian province to maintain market-friendly funding approach and 'meet investors where they want us'
SSA
Busy and ‘euro-heavy’ week ahead but dollar pipeline also building with issuers set to bring forward bond plans
◆ First dollar SSA benchmark in two weeks, 'very successful' ◆ 'Pro-investor' pricing approach on show once again ◆ Funding for new fiscal year well underway
SSA
Busy Thursday ahead as five euro and dollar benchmarks set to price after a slow March
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  • SSA
    The State of Thuringia sold five year debt on Friday morning, with sharper than expected investor interest allowing the issuer to increase the size of the deal. The trade rounds out a successful week for German states, including a blowout 10 year benchmark from the State of Saxony-Anhalt.
  • SSA
    The European Financial Stability Facility (EFSF) tapped a three year bond for €1.5bn on Wednesday afternoon. It was joined in euros by the State of Saxony-Anhalt, which priced a heavily oversubscribed 10 year benchmark at a tight price earlier in the day.
  • SSA
    The State of Lower Saxony tapped seven year debt on Monday morning, continuing a steady stream of issuance from German states. The City State of Bremen is also expected to come to market soon with a seven year floater.
  • SSA
    Small issuers felt the love of investors this week as a flurry of long dated issuance in the private markets echoed the bulge of activity in the public sector.
  • SSA
    The largest French regions could consider foreign currency deals as they tackle increased funding needs, euro medium term note bankers said this week.
  • SSA
    The German State of North-Rhine Westphalia has had one of its most successful transactions in recent history on Tuesday with a €1bn seven year bond, which drew demand of over €2.7bn and was priced 3bp inside initial price thoughts.