TD Securities
-
Export Development Canada and Erste Abwicklungsanstalt raised short term dollar debt on Wednesday as the market was buoyed by a dovish congressional testimony from the chair of the Federal Reserve. -
The Federal State of Berlin chopped 2bp off the spread offered for its €500m 2039 bond during execution on Wednesday, as SSA investors remain hungry for long duration debt.
-
Toronto-Dominion Bank (TD) returned to the covered bond market for the second time this week following its dollar benchmark and, thanks to a late rise in yields, the eight year deal offered more than twice the return of CIBC's eight year issued a week ago.
-
Last week’s tightly priced bond issue by KfW has inspired a slew of issuers to print three year dollar notes this week, a banker said. The Asian Development Bank was first off the blocks on Tuesday with a new benchmark, and Export Development Canada and Erste Abwicklungsanstalt are set to follow.
-
Toronto Dominion took advantage of strong demand on Monday to issue a $1.75bn three year covered bond, which was priced almost flat fair value.
-
The Asian Development Bank is set to return with its second dollar benchmark of the year later this week.
-
Toronto Dominion opened order books on Monday for the third dollar benchmark covered bond from a Canadian issuer this year and, like the others, it has also chosen to issue a three year.
-
Following on from Barclays’ Kangaroo return last month, two more foreign banks looked towards the Australian market on Wednesday. Toronto Dominion Bank placed its inaugural bail-inable Kangaroo and BNP Paribas printed its first Australian dollar AT1 note.
-
Austrian agency Asfinag won a big order book on Tuesday, allowing it to price 3bp tighter than guidance, in a 10 year tenor the issuer hasn't accessed since 2009. Municipality Finance and the German federal state of Lower Saxony will add to the euro SSA supply on Wednesday with a 10 year green bond and a seven year benchmark, respectively.
-
The prospect of a blockbuster bond deal from US pharmaceutical group AbbVie was welcomed by dollar bond investors this week, after corporate issuance tumbled to its lowest monthly tally this year.
-
Toronto Dominion Bank has become only the second borrower from outside of the UK to sell a Sonia-linked covered bond, having quickly met enough orders on Monday to launch a £1bn offering in the sterling market.
-
