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Monday, 27 February 2017

Top Stories from IFR Magazine - SSAR

EFSF Logo Jan 2012

EFSF's return to long end tests investors' patience

IFR 2172 25 February to 3 March 2017

The European Financial Stability Facility found more than €5.6bn of demand for a €4bn long four-year bond issue on Tuesday, but a concurrent €1bn 39-year generated only about €1.2bn of orders, highlighting the issuer’s woes at the long end.

Spain cuts size to fit demand

IFR 2172 25 February to 3 March 2017

Spain sold its first 15-year benchmark in almost two years as it looked to reinvigorate its curve, although a weak backdrop saw the sovereign put the brakes on its size ambitions.

CDC hits double as French agencies brave volatility

IFR 2172 25 February to 3 March 2017

Caisse des Depots et Consignations, Aa2/AA/AA (all stable), cleared a pair of hurdles as it sold a rare euro benchmark that was also its first Green bond, despite underlying wobbles in OATs.

NWB hits dollars before election

IFR 2172 25 February to 3 March 2017

Nederlandse Waterschapsbank printed the week’s major US dollar deal as it got ahead of the Dutch national elections.

UK DMO reopens 2065 linker

IFR 2172 25 February to 3 March 2017

The UK DMO sold a £2bn-nominal tap of its 0.125% index-linked November 2065 Gilt at 0.25bp through its March 2062 issue. That equated to a gross real redemption yield of –1.5235%, and will take the nominal issue size to £7.25bn.

Portugal reimburses half of IMF bailout

IFR 2172 25 February to 3 March 2017

Portugal has made a new early repayment of €1.7bn to the International Monetary Fund, the Finance Ministry said on Monday, meaning it has reimbursed half of the bailout loans provided by the IMF during the 2011 debt crisis, Reuters reported.