BMO Capital Markets

Supra to bring one more dollar benchmark before year-end

◆ BFCM becomes first French bank to print Yankee after parliamentary election ◆ Foreign banks rush before major US peers expected to swarm market ◆ Athene raises dollars days before pulling a euro deal

SSA issuers priced before US inflation data is announced

Dollar-based funders return to the primary market

◆ NIP consensus among bankers ◆ BMO finds it 'easier to attract demand' ◆ Favourable ‘timing’ and ‘optics’

Supra issuer aims to fund $15bn in the year from July 1 and remains committed to dollar benchmarks

Issuer also benefits from improving market tone as ‘every day is a little better than the last’

◆ BMO Kanga gets them hopping outside of Oz ◆ HSBC sells into Japan and beyond ◆ Innovative yen coupon floor

◆ Cross-border yen funding remains open despite volatility elsewhere ◆ HSBC firms up terms on senior Samurai from its Hong Kong bank ◆ BMO marketing senior deal in Australian dollars

Canadian issuer taps into three different currencies within one week

Canadian issuer takes bigger amount than originally targeted

Other SSA peers held back as market turned volatile