CIBC World Markets
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MTN bankers were “happy” to hear that the Asian Infrastructure Investment Bank is working on documentation for a Euro medium term note programme. -
Canadian Imperial Bank of Commerce (CIBC) issued its first euro covered bond in well over a year on Wednesday and was able to reap the benefit of its rare appearance by pricing a €1bn eight year flat to its curve.
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Canadian Imperial Bank of Commerce (CIBC) has mandated leads for its first euro covered bond since January 2018.
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Canadian Imperial Bank of Commerce issued its second Australian dollar deal of the year on Thursday. The senior unsecured short-term debt is not subject to Canadian bail-in regulation.
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Canadian Imperial Bank of Commerce (CIBC) opened books on its first bail-inable senior bond in euros on Monday, with four out of Canada’s big six banks having targeted the currency at the end of April.
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Sovereign, supranational and agency (SSA) issuers burst into the second quarter with a scorching week that saw plenty of big books and minimal or negative premiums.
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The dollar market is expected to provide just a handful of deals this week, with a benchmark for the Province of Quebec and a short dated floater for Eurofima up first.
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The US corporate new issuance calendar took a breather on Thursday after clocking up its busiest week of the year with $30bn of supply in just three days. Borrowers remained on the sidelines as investors digested the supply onslaught that brought bulging order books and tight pricing.
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KfW made a strong return to the Canadian dollar market on Thursday after 3.5 years away from the currency, as it tightened pricing on its comeback deal. The German agency came alongside a green bond in the currency from a Canadian province.
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KfW and Québec will bring Canadian dollar bonds to the market on Thursday, with the former looking to issue in the currency for the first time since 2015.
