US dollar
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◆ Deal has a large $2.5bn size ◆ Front end opportunity opens up ◆ €18bn raised so far in 2024 -
◆ First Reg S/144A floater ◆ ‘Good demand’ for short end FRN paper ◆ Issuer takes size at upper end of target range
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◆ Three year bond cost ‘flattish to euros’ ◆ Tight Treasury spread? No bother ◆ €10bn left to do of €80bn target
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◆ Canadian issuer returns after two years ◆ Deal grabs record demand ◆ Leads were 'careful to get pricing right'
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Supranational’s chief financial officer speaks to GlobalCapital about the plans ahead
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Halyk Bank reopened international loan market after 15 years
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◆ KfW issues its final dollar benchmark of 2024 ◆ Dollar cost improved but remains pricier than euros ◆ Agency peers BNG, KBN also found support
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◆ European banks' recent AT1s encouraged issuance as they continue to perform ◆ French bank issuing a day after calling a $1.25bn AT1 ◆ More dollar issuance due from EM banks
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Issuance is expected to rise before the US election, after several borrowers decided to come to market in advance of the Fed meeting
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Favourable conditions could encourage pre-funding for 2025
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Higher yields, through senior duration and capital, to support prefunding demand
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Next three to four weeks key if issuers are to complete 2024 funding early
