Natixis
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Chinese conglomerate Fosun International went to the international debt market on Wednesday for a $500m deal. -
France set a new order book record with its new 50 year syndicated bond on Tuesday. Two other public sector borrowers joined the sovereign at the long of the euro curve.
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Spreads have moved away from their tightest levels, but issuers do not seem put off. France will extend the flood of long end deals with its first 50 year OAT syndication in almost five years on Tuesday.
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Erste Group Bank was first out of the blocks this week to tap the euro market for senior preferred paper, with the lack of competing supply allowing the bank to target 'pricing over size', according to one of the leads.
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Tight valuations in euros are making it difficult for banks to impress investors with new senior trades. Issuers may have to pay up or switch focus to other asset classes to make the most of the January market.
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A number of top staff at Natixis's corporate and investment banking division have started new jobs, the latest moves in a bout of seat hopping at the top table in this part of the bank.
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World Bank extended its euro benchmark curve with flying colours on Wednesday, in a further sign of ample demand for duration amid a low yielding environment.
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The Sultanate of Oman's return to debt markets is proof to some that the market is wide open for high yielding emerging market issuers. The sovereign mandated banks for a dollar deal as investors, hunting for yield, appear undeterred by volatility in the US rates market.
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World Bank hired banks on Tuesday to lead a new 40 year euro sustainable development bond — the supranational’ s longest ever benchmark in the currency. The deal will be the latest example of public sector borrowers venturing longer in the euro market this year.
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UniCredit raised €2bn of preferred senior funding with a careful trade on Tuesday, as investors come to terms with a new pricing paradigm in the bank bond market.
