US dollar
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Credit spreads widen on private credit concerns though technicals remain favourable -
Govvies outperform swaps as market participants contemplate next year’s spread direction
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SSA issuers also back in frontier currency private placements
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◆ Rival bankers call deal 'a great success' ◆ Dollar spread vs euros 'swung back to issuers' ◆ Cost of carry vs locking tight spreads
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Additional reserves could be freed, enabling banks to scale up lending
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The Canadian borrower recently landed its tightest ever deal in US dollars
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Private credit has carved a big role, but banks are hoping to get in
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Despite widening of business development companies' spreads, technicals remain favourable for FIG issuance
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Hong Kong dollar issuance stays hot, while Middle East names add to a steady run in private placements
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Oversubscribed loan adds $800m of liquidity
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◆ Three year maturity shorter than recent deals ◆ Tightest yet versus USTs ◆ Record breaking book for Canadian issuer
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◆ Bank of England launches new dollar programme ◆ Choice of five year discussed ◆ Calculating a new issue premium
