Spanish Sovereign
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Spain and Cyprus attracted strong demand for their syndicated bonds on Tuesday, with the former receiving the largest ever order book for a public sector euro benchmark. Italy and Belgium will add to the eurozone sovereign supply on Wednesday after mandating leads for new 30 and 10 year trades, respectively. -
The European Financial Stability Facility took the spotlight in the euro public sector bond market on Monday with an intraday execution ahead of a busy week. The European Investment Bank, Council of Europe Development Bank, Spain and Cyprus have all announced new deals.
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Spain’s formation on Monday of a Socialist-led coalition government, even one with no parliamentary majority, has opened the way for the country to press ahead with launching its first green bond. The deal of about €5bn is likely to be syndicated in the second half of 2020, and could prove one of the prize mandates of the year for banks to compete for.
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Instituto de Crédito Oficial (Ico) is planning to issue its second green bond in 2020, following its debut trade in the format earlier this year.
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Instituto de Crédito Oficial (Ico) and Investitionsbank Berlin (IBB) found strong demand in the short end of the euro curve on Wednesday, which SSA bankers are calling the new sweet spot, despite the deeply negative yields.
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Instituto de Crédito Oficial (Ico) held investor calls on Tuesday ahead of its return to the social bond market to complete its funding needs for the year.
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Instituto de Crédito Oficial has selected its new head of capital markets, to replace Rodrigo Robledo, who left earlier this month, GlobalCapital can reveal.
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DB bumps up Lewellen, Buvat gets levfin — ING names new corp fin boss — Ico’s capital markets head departs — CBAM Partners hires Levilain to help euro loans launch — Citadel shrinks European credit team
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The head of capital markets at Spain’s Instituto de Crédito Oficial has left to join the region of Madrid as chief financial officer.
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Issuance is starting to resume after the summer break; however, this week a booming public market drew away investor and issuer attention from MTNs. Despite this, a range of established SSA, FIG and corporate borrowers have slipped in, with deals across core, niche and EM currencies.
