US dollar
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◆ Spread tightened through fair value ◆ Dollar investors shrug off yen swings ◆ JFM endures dollar-yen basis move -
Market participants ‘certainly won’t get bored’ during quiet weeks for issuance
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Issuer weighs up currency costs and sentiment
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Largest ever US bank capital deal sold this week as another big perp also appears amid hunt for yield
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◆ Syndicate desks say if deal was expected ◆ Flurry of SSA bullet and structured MTNs ◆ Mandates hit screen after US data
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Company signed inaugural facility for $175m in 2024
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Loan has an accordion option that can see its financing bumped up by another $417m
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CIBC raises deeply subordinated debt capital in dollars as diverse set of foreign lenders print senior bonds
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◆ Head of European funding discusses sterling deal ◆ Savings versus dollars ◆ Canadian return eyed
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◆ Issuer triples FRN size to $2.25bn ◆ Pricing came inside fixed rate secondary ◆ Sterling, Kauri deals also done this week
