TD Securities
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The State of North Rhine-Westphalia and the International Finance Facility for Immunisation attracted impressive demand in the dollar market on Wednesday, allowing them to print big deals in the currency. -
Demand for BPCE's latest Kangaroo note was skewed towards the preferred senior format this week, with non-preferred paper only making up A$125m ($96.0m) of the A$750m deal. The French firm was also joined in the market by Rabobank, which sold its first Aussie deal after an almost two year absence.
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BPCE and Rabobank are in the market for Aussie dollar senior paper, with bankers expecting a busy April as a slew of financial issuers refinance maturing bonds.
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KfW and CPPIB Capital achieved super tight pricings in the short end of the US dollar market on Thursday, with the former bringing the first deal with a negative spread to mid-swaps in the currency by a public sector borrower this year.
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Verizon Communications, the US telecoms group, embarked on an almost $3bn niche currency bond issuing spree this week, which included the largest foreign Swiss franc bond since early 2018.
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Inter-American Development Bank was the only issuer to hit screens in US dollars this week, raising $500m with a seven year bond linked to the secured overnight financing rate — its longest ever in the format.
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The European Union finally arrived with its second Support to mitigate Unemployment Risks in an Emergency (SURE) transaction of the year on Tuesday, two weeks after it sent banks a request for proposals (RFP).
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The Bank of Montreal marked International Women’s Day with a Canadian dollar women in business bond this week — its first domestic issue off its sustainability framework.
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The European Union completed another chunk from its Support to mitigate Unemployment Risks in an Emergency (SURE) funding programme on Tuesday, leaving the issuer with up to €13bn more to raise before the end of March.
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The European Union on Monday finally mandated the banks to lead its second Support to Mitigate Unemployment Risks in an Emergency (SURE) transaction of the year.
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Goldman Sachs led a bumper week of dollar bond supply this week, as the high-grade market showed its resilience and investors lapped up issuance from a broad array of bank and finance names.
