CIBC World Markets
-
Five banks raised more than $10bn in the senior unsecured dollar market this week, exploiting strong demand and at spreads that were in line with where covered bonds would have priced.
-
-
Public sector borrowers are extending their run of success in dollars, thanks in part, according to an SSA syndicate banker, to a shortage of places for investors to put cash. -
Canadian Imperial Bank of Commerce this week priced the first negative yielding non-Eurozone covered bond, with a well oversubscribed order book and a tiny new issue concession.
-
The Province of Manitoba sold a 10 year dollar bond on Tuesday, taking advantage of a good window despite the impending Fed rates decision on Wednesday.
-
GlobalCapital is delighted to announce the winners of its Americas Derivatives Awards for 2016. The results were revealed at a gala dinner at New York’s Metropolitan Club on June 2. Thank you to everyone who supported the event by attending and for taking part in the pitches that decided who were the best and brightest in US, Canadian and Latin American derivatives over the last 12 months.
-
-
Bank Nederlandse Gemeenten, FMO, Japan Bank for International Cooperation and the Province of Quebec all hit screens on Monday for forthcoming dollar deals, with bankers remarking that the SSA market could be set for another hectic week.
-
Royal Dutch Shell has cancelled its £10.07bn ($14.56bn) bridge loan, instead opting to pay for the cash element of its $82bn acquisition of BG Group with cash on balance sheet.
-
Canadian Imperial Bank of Commerce took advantage of a back-up in three year euro swap yields following the European Central Bank meeting last week to issue a covered bond of the same tenor.
-
The covered bond market experienced a surge in supply this week, confounding expectations, and illustrating how important it is for issuers to seize unusual funding opportunities.
-
Activity in the covered bond market had been expected to slow down but instead it has been surprisingly busy this week, with as many as three euro benchmarks surfacing over the first three days.
