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Friday, 20 July 2018

Robert Hogg' s stories

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  • Euros are king as basis moves against dollars

    Bonds | 06 July 2018

    Two issuers turned to the euro market on Wednesday, profiting from a move in the euro/dollar basis swap that has soured the taste of dollars for SSA borrowers.

  • 'Greenium' unproven but demand abounds

    Bonds | 29 June 2018

    The concept of whether issuers can extract a premium for green products remains in debate, but a trio of SSA issuers can point to swollen order books as proof of robust demand for the format.

  • A man walks outside the local branch of the KfW bank in Frankfurt

    KfW pads out sterling bond

    Ticker | 27 June 2018

    KfW was able to hike the size of a December 2023 note offering by £200m from IPTs, as it launched a new £500m bond on Wednesday.

  • The King of Bahrain

    Gulf states poised to support Bahrain

    Ticker | 27 June 2018

    It looks as if the Gulf States have seen enough and will soon announce a programme to support Bahrain’s economic reforms and its fiscal stability.

  • EIB

    EIB bolts on seven-year

    Ticker | 26 June 2018

    The European Investment Bank printed a €4bn seven-year Euro Area Reference Note on Tuesday, taking it close to completing two-thirds of its funding programme for the year.

  • Spain

    Spain to test peripheral sovereign market with 10-year syndication

    Ticker | 25 June 2018

    The Kingdom of Spain is expected to bring a syndicated 10-year euro benchmark in the near future, a trade which will provide the first glimpse into investors’ appetite for peripheral debt since Italy brutally sold off in May.

  • Turkey

    Turkey gains fall away in Monday trading

    Ticker | 25 June 2018

    The rally in Turkish assets after the country’s election results has proved short lived, with the sovereign’s dollar bonds hitting levels wide of Friday’s close.

  • NRW.Bank logo

    NRW.Bank makes Greens a habit

    Ticker | 25 June 2018

    NRW.Bank, which has made a habit of tapping the Green market since its debut in the format in 2013, set final terms on a no-grow €500m 10-year drive-by on Monday off books that were nearly three times subscribed.

  • BEH creeps over the line

    Emerging Markets | 22 June 2018

    Bulgarian Energy Holding succeeded where regional neighbour EPP failed and got its deal done, glad no doubt to take €400m at 3.50% for a seven-year note issue, even if pricing was stuck at guidance.

  • Bears put Turkey under siege

    Emerging Markets | 22 June 2018

    Turkish bonds had appeared to find a floor ahead of Sunday’s crucial elections after a horrendous start to the week, though further pain may lie ahead as doubts about economic policy continue to drive the market.