TD Securities
-
The European Investment Bank (EIB) braved “horrendous” market conditions in order to print the first Sofr trade linked to the Federal Reserve’s index. -
The European Investment Bank is out with its first Sofr-linked floating rate note structured with a ‘shift’ coupon calculation rather than the ‘lag’ methodology which it introduced to the Sofr FRN market in June 2019.
-
ING was praised for pricing a coupon of 4.875% in what was the only financial institution trade of the week in the euro market. The lender had to brave much tougher market conditions in its second attempt at this bond issue, having pulled its first attempt amid news of its chief executive jumping ship.
-
ING left its investors bemused on Wednesday, when it decided to pull the additional tier one (AT1) bond it was marketing on the basis of undisclosed information it had received. After the news of its chief executive’s move to UBS quickly became public, the door was left open for the bank to complete the trade.
-
One of February’s few dollar issuers hit screens on Thursday, raising $1bn of five year cash at an impressive spread.
-
The Council of Europe Development Bank has picked the banks to lead its first dollar benchmark of the year, in what will only be the second public deal in the currency this week.
-
ING Groep postponed the sale of an additional tier one after clocking up $11bn of demand in the dollar market on Wednesday. At the same time, Arion Bank was looking to launch a $100m deal in the same format — the lowest volume on record in dollars.
-
-
Bank of America signalled the last hurrah of post-earnings supply by Wall Street heavyweights when it hit the market on Monday with a $5bn bond.
-
Ontario printed a first green bond off its domestic medium term note programme this week, and the deal was over six times covered. Demand for green provincial paper is high, with Ontario coming a week after neighbouring Quebec.
-
Export Development Canada has mandated banks for its first dollar benchmark of the year in what has been a quiet week in the currency for public sector borrowers. SSA bankers expect activity in dollars to pick-up next week, despite a US public holiday on Monday.
-
World Bank cemented its status as one of the leading sterling issuers in the public sector bond market with a record-breaking 10 year deal on Thursday.
