French Sovereign
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The European Investment Bank became the latest SSA to hit the unusually popular 10 year dollar bucket on Tuesday, raising an impressive $4bn. The European supra was joined at five years by a jumbo trade from Caisse d’Amortissement de la Dette Sociale. -
Spain will lead the public sector borrowers' charge into the primary bond market this week with its second ever 50 year benchmark syndicated deal ahead of the Chinese New Year holiday.
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Agence France Locale, the funding agency for French local authorities, is gearing up for its busiest ever year in the capital markets with plans to issue a structured private placement and follow up January’s deal with a second euro benchmark this year.
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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 1. The source for secondary trading levels is ICE Data Services.
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The Agence France Trésor (AFT), the French sovereign debt office, has announced that it will issue up to €15bn of green bonds this year, a sharp increase in supply from last year.
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The European Union wrapped up its first bond of 2021 under the Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme in style with a quick execution and another impressively sized order book.
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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, January 25. The source for secondary trading levels is ICE Data Services.
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Dexia Crédit Local raised £750m with a December 2026 bond on Monday, gathering a generously oversubscribed order book and pulling in the spread during execution, promising a strong reception for Asian Development Bank on Tuesday. OeKB will come to market with a dollar five year.
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France stole the limelight in the euro public sector bond market this week as it set new records for 50 year benchmarks in terms of size, demand and yield. But next week all eyes will be firmly fixed on the EU, which is set to bring its first bond of the year under its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme.
