Top Stories from IFR Magazine - SSAR
A fresh ratings downgrade and a potential banking crisis were not enough to keep investors away from Italy’s syndicated bond deal last week, with the issuer almost matching the huge demand seen in Belgium’s record-breaking trade days earlier.
Export Development Canada was the only name to bring a new sterling deal to the market last week, with bankers claiming issuers are being put off by the crumbling arbitrage versus US dollars.
The Republic of the Philippines showed last Wednesday that it was still an investor favourite as its first issue of offshore bonds under controversial President Rodrigo Duterte drew a strong response in a record week for Asian credit.
The Australian Office of Financial Management ticked several boxes with last Wednesday’s record-breaking A$9.3bn (US$7.0bn) syndicated offering of 2.00% December 21 2021 Treasury bonds.
Two Triple A rated German agencies targeted high-volume mid-curve Kangaroo trades last week to raise a combined A$300m (US$226m).
The Republic of Indonesia (Baa3/BB+/BBB–) will hold a beauty parade this week for shortlisted banks seeking roles on a planned US dollar sukuk offering.