TD Securities
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International Finance Corporation is set to close a tap of an April 2025 Kangaroo, its longest dated line in Australian dollars. The deal comes shortly after World Bank tapped its longest dated Kauri bond. -
Bank of New Zealand and Rabobank navigated a tricky senior unsecured market for financials this week, selling the only deals of the week on Monday.
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Export Development Canada built an oversubscribed book for a new dollar benchmark on Tuesday, despite pricing flat to its curve. The issuer’s rarity and the deal’s proximity to the Thanksgiving holiday in the US on Thursday may have helped boost demand for the paper.
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Export Development Canada is circulating initial price thoughts for a dollar benchmark in what is set to be a very short window for issuance ahead of the Thanksgiving holiday in the US on Thursday. Bankers away from the mandate said that the price thoughts were aggressive but that the issuer’s rarity and the deal’s limited size should make it a success.
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Bank of New Zealand and Rabobank sought to revive the senior unsecured market on Monday following a wobbly patch at the close of last week when syndicates pulled several deals. Both issuers took to the belly of the curve, BNZ looking for euros and Rabo dollars.
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The international Finance Corporation has taken another step in furthering the internationalisation of Indian rupee bond markets by issuing the first London listed bond in the currency. The deal also marks the longest dated offshore Indian rupee bond.
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Rentenbank is set to return to the Canadian dollar market for the second time this year on Wednesday, with what will be its largest benchmark in the currency since 2007.
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Council of Europe Development Bank (CEB) has hired lead managers to run the first five year dollar syndication since a pair of deals failed to cross the line three weeks ago amid strong volatility in US Treasuries. Sweden and Caisse des Dépôts et Consignations brought deals with more conservative maturities.
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World Bank has been busy in local currencies this week, printing its first deal in Mexican pesos this year and doubling the size of an 11 year Kangaroo bond.
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Nestlé found strong demand for a six year Australian dollar bond on Wednesday, its second issue in the currency this year.
