Belgian Sovereign
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Sovereigns take €7bn each while supranationals and agencies also keep euro buyers busy -
The pair raised €8.5bn combined despite the EU draining €12bn from the market the previous day
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The pair announced ESG deals as the EU finalises a well sought-after €12bn transaction
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The agency still rates Brussels higher than both Moody's and Fitch
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Brief reprieve in shaky rates market tipped to encourage sovereign
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of busiess on Monday, July 5. The source for secondary trading levels is ICE Data Services.
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The Belgian region of Wallonia was the only public sector borrower to the follow Tuesday’s jumbo dual tranche by the European Union in the primary market on Wednesday as it raised €1bn with a new long 10 year conventional bond.
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The French Community of Belgium (LCFB) sold its first social bond under its new social finance framework on Wednesday.
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Brussels jumped into the long end this week, printing the longest MTN in over a month.
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Greece and the Flemish Community are preparing to sell syndicated bonds at the long end of the euro curve following a strong reception for France with the sale of its second green OAT on Tuesday.
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, February 8. The source for secondary trading levels is ICE Data Services.
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Three eurozone sovereigns all extended their euro curves with huge order books for syndicated transactions this week in a sign of rampant investor appetite for long-dated debt.
