TD Securities
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The World Bank printed its second Sonia linked note on Wednesday as part of efforts to build its Sonia curve. The supranational has now sold over £2.5bn of Sonia paper across two benchmark bonds since September 2018. -
The Asian Infrastructure Investment Bank (AIIB) positioned itself among the very highest credits on Thursday with its capital markets debut, selling a five year global dollar benchmark bond that bankers said was priced similarly to top rated supranational debt from issuers like the World Bank and the European Investment Bank.
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The Asian Infrastructure Investment Bank (AIIB) has begun a price discovery process for its eagerly awaited inaugural bond, which is expected to be issued on Thursday.
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Barclays Bank kept the primary covered bond market alive on Wednesday, launching its first deal of the year and its first Sonia-linked transaction — though at £500m it was the bank’s smallest covered bond yet.
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The Asian Infrastructure Investment Bank (AIIB) has mandated banks for its inaugural bond, a five year dollar global benchmark.
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Royal Bank of Canada has wrought havoc with the traditional pecking order for Canadian financial institutions in the credit markets, beating a better-rated peer for spread amid a string of recent senior issuance out of the country in euros. Market participants took the stunning developments this week as clear proof for a long-standing belief: green funding is simply cheaper. Tyler Davies reports.
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Syndicate bankers are expecting Kangaroo issuance to wane as the Japanese market shuts down this weekend for an extended holiday and Australia’s inflation outlook worsens.
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Royal Bank of Canada stunned market participants with its first public euro offering of bail-inable senior debt on Wednesday, pricing the deal inside equivalent trades from Toronto-Dominion Bank and Bank of Nova Scotia. The trade was RBC’s first ever green bond.
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Ontario Municipal Employees Retirement System (Omers) has mandated for its debut dollar bond, with the pension provider hoping to replicate the success of its compatriot issuers in recent weeks.
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The Province of Ontario’s three year dollar benchmark this week sparked criticism from onlooking bankers after the spread was set a day before pricing. However, a head of SSA DCM at one of the leads replied that it was the “honourable” thing to do after the deal received more demand than expected.
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Euro investors have been treated to their first ‘bail-inable’ senior bonds from Canadian banks, as Bank of Nova Scotia followed Toronto-Dominion into the market this week.
