KfW
-
The pipeline for euro issuance is filling up once again as the European Investment Bank looks to raise funds at 10 years, although a deal from KfW on Tuesday appeared to struggle to reach €1bn. -
-
More dollar deals are expected next week following a searing few days for trades in the currency, but despite bumper books and deal sizes, some in the market feel there is still some price discovery work to do. Meanwhile, US president-elect Donald Trump made his presence felt on the issuance calendar.
-
The market for medium term notes is expected to come to life over the next few weeks after a subdued start to 2017, with some bankers and issuers touting floating rate notes as the next big thing.
-
Public sector borrowers tore $10bn of funding from the dollar market on Tuesday, shaving several basis points from initial price thoughts in the process. Only one benchmark is on screens for Wednesday, but SSA bankers expect next week’s run-up to the inauguration of Donald Trump as US president on January 20 will be — in Trump terminology — “huge”.
-
Tuesday’s dollar market is set to be packed to the rafters, with a quartet of issuers out with trades and most of the focus at the five year part of the curve.
-
-
-
A remarkable sterling deal from the European Investment Bank sparked off a week that could become a record opener for supranational and agency issuance in the currency.
-
Four sovereign, supranational and agency borrowers came to market for euros in the opening week of 2017, showcasing the market’s depth and flexibility. But the torrent of supply has meant that issuers haven’t had it all their own way.
-
Searing conditions in the sterling market could lead to a record opening week of SSA issuance in the currency as a pair of issuers lined up deals for Friday — despite this only being a four day week.
-
KfW and Ireland brought euro deals on Wednesday at the very top end of size expectations, alleviating a little of the pressure on what is set to be an extremely busy year in the currency. The trades came the same day as Municipality Finance mandated for a euro benchmark and a request for proposals came from the European Financial Stability Facility.
