Cbonds Global

2022-06-02 10:02:06 Rating Actions in Foreign Currency on June 01, 2022

S&P Global Ratings downgraded El Salvador to 'CCC+' from 'B-' with the negative outlook.

Reasons: "Our 'CCC+' ratings on El Salvador are based on its fiscal and external debt vulnerabilities and its dependence on favorable economic conditions to meet its financial commitments. The government's high financing needs and heavy reliance on short-term domestic debt have exacerbated rollover risk amid narrowing financing options."S&P's press release. Open / Comment

2022-06-02 09:58:16 US Treasury Securities

Yield Curve

UST 2Y YTM:
2.66% ( 13 bp)
UST 5Y YTM:
2.94% ( 13 bp)
UST 10Y YTM:
2.94% ( 9 bp)
UST 30Y YTM:
3.09% ( 2 bp)

The U.S. Treasury yield climbed Wednesday on the first day of June, with investors focused on rising inflation and interest rate hikes.
Rising prices around the world remain a key concern for investors, with eurozone inflation hitting 8.1% in May, according to data released on Tuesday.

Comment: CNBC Open / Comment

2022-06-01 15:20:22 Upcoming issue

Issuer: Huhtamaki

Issue description: €500m five year sustainability-linked bond

Date: soon

Bookrunners and Lead Managers: Nordea (sustainability adviser), BNP Paribas, Citigroup and SEB Open / Comment

2022-06-01 09:59:50 US Treasury Securities

Yield Curve

UST 2Y YTM:
2.53% ( 6 bp)
UST 5Y YTM:
2.81% ( 10 bp)
UST 10Y YTM:
2.85% ( 11 bp)
UST 30Y YTM:
3.07% ( 10 bp)

Rising yields in the Treasury market were triggered by the early move in oil prices and a contention from Fed Governor Waller (FOMC voter) that he supports a policy rate above the neutral rate by the end of the year.

Comment: Briefing Open / Comment

2022-05-31 19:28:27 Upcoming issue

Issuer: ADB

Issue description: bond

Date: soon

Bookrunners and Lead Managers: Citi, Crédit Agricole, Goldman Sachs and Morgan Stanley are running that deal Open / Comment

2022-05-31 19:27:08 Upcoming issue

Issuer: Erse Abwicklungsanst (EAA)

Issue description: €6bn 0% August 2050 green Bund

Date: soon

Bookrunners and Lead Managers: Barclays, Commerzbank, Crédit Agricole, HSBC, Morgan Stanley and Nomura are running the trade. Open / Comment

2022-05-31 19:23:23 Upcoming issue

Issuer: Arada Developments

Issue description: 8.25% area for a five year benchmark dollar sukuk

Date: soon

Bookrunners and Lead Managers: Joint global co-ordinators are Standard Chartered, Emirates NBD and Dubai Islamic Bank. Joint lead managers and bookrunners are Abu Dhabi Commercial Bank, Sharjah Islamic Bank, Mashreq, Ajman Bank, Al Rajhi Capital, Kamco Invest and Warba Bank. Open / Comment

2022-05-31 19:19:54 Upcoming issue

Issuer: Urenco

Issue description: bond

Date: soon Open / Comment

2022-05-31 19:18:38 Upcoming issue

Issuer: Heraeus

Issue description: bond

Date: soon

Bookrunners and Lead Managers: Commerzbank, Deutsche Bank, ING and UniCredit Open / Comment

2022-05-31 19:16:11 Upcoming issue

Issuer: Andalucia

Issue description: €500m no-grow short 10 year sustainable bond

Date: soon

Bookrunners and Lead Managers: BBVA, CaixaBank, Crédit Agricole, HSBC, Sabadell and Santander Open / Comment