UK Sovereign

Bank of Tokyo Mitsubishi UFJ has lost a senior banker from its loan syndication business in London.

Blog thought most bankers working in the sovereign debt market would have been rejoicing as the No votes piled up when the results from the Scottish independence came in the wee small hours of Friday morning. After all, trying to explain the new constitutional setup of Scotland and the rest of the UK to overseas investors would be pretty difficult, especially considering none of the politicians seemed to know what it was supposed to look like either. Not to mention trying to work out which entity exactly would be on the hook for different parts of the UK’s debt pile.

Scotland’s rejection of independence late this week started to cause ripples in a wider pool of capital on Friday morning, as Spain — facing its own separatist movement in Catalonia — tightened against Germany. But the move reversed later in the day after Catalan president Artur Mas insisted an independence vote in the region would go ahead.

The UK government announced on Friday that it is planning to sell an offshore renminbi bond, which would make it the first sovereign outside China to do so. A slew of supranational and agency issuers have been drawn to the market this week following favourable moves in the dollar/renminbi basis swap.

This week's scorecard covers the funding progress of selected sovereign issuers. Read on to see which are over the 80% mark.

A long dated conventional bond was the overwhelming choice among Gilt investors for the UK Debt Management Office’s third quarter syndication, the DMO reported after holding consultations with market participants on Monday.

This week's scorecard covers the funding progress of sovereign issuers, with all of the eurozone periphery comfortably ahead in their programmes despite some wobbles in secondaries over the past month.

The narrowing gap over the course of this year between voters who intend to vote for Scottish independence and those who don’t may have been setting Gilt investors’ nerves on edge because of the potential impact of a UK breakup on their holdings. But they can breathe a little easier this week — thanks to an unlikely source.

The UK Debt Management Office raised its largest ever book for an inflation linked syndication on Tuesday when it opened a new 2058 line.

The UK Debt Management Office hired four banks to run an upcoming long-dated linker syndication on Friday. The deal will be the DMO’s second syndication of the financial year, following on from a January 2045 conventional last month that attracted the biggest book on a DMO deal in five years.

This week's scorecard covers the funding progress of sovereign issuers, with all of the eurozone periphery comfortably ahead in their programmes despite some recent wobbles in secondaries.

This week's scorecard covers the funding progress of sovereign issuers, with most issuers moving into the second half of their funding programmes. Next week's scorecard will deal with European supranationals and agencies.