Top Stories from IFR Magazine - SSAR
Lower funding costs could entice Portugal to return to the market with a syndicated deal, bankers hope, its first since a €4bn 10-year priced in January that attracted a record-breaking €24bn-plus of orders.
KfW broke records on the US dollar market last Tuesday, bringing the tightest print versus Treasuries in the supranational and agency space since 2015.
The State of Hessen was the first public sector issuer to hit the screens in the week ahead of the Easter break, bringing an ambitiously priced €300m no-grow six-year LSA last Monday.
France-guaranteed found support in last Monday’s market, gathering over €1.75bn in orders for a €350m increase of its €650m 0.125% March 2021.
KfW’s cautious approach to the long end paid off last Monday, with books crossing €3.6bn at the last update for a €1bn no-grow long 20-year that priced flat to fair value.
The generous spread on offer over Spanish government bonds paid off for ADIF-Alta Velocidad, with investors placing more than €1.8bn of orders for what is its only planned public bond of the year.