Cbonds Global

2022-02-10 12:55:40 Upcoming issue

Issuer: Slovenia

Issue description: bond

Date: issue a new euro bond following the results of the tender which are due on February 16

Bookrunners and Lead Managers: Barclays, BNP Paribas, Credit Agricole, Deutsche Bank, Erste Group, and JP Morgan

Slovenia has tendered to buy its dollar May 2023 and February 2024 bonds, and its euro March 2023s and September 2024s. Open / Comment

2022-02-10 12:32:17 Upcoming issue

Issuer: Israel Electric

Issue description: 10-year dollar benchmark

Date: soon

Bookrunners and Lead Managers: BNP Paribas, Barclays Open / Comment

2022-02-10 10:37:47 Rating Actions in Foreign Currency on February 9, 2022

Fitch Ratings downgraded El Salvador to 'CCC' from 'B-', without outlook
Reasons: "The downgrade reflects heightened financing risks stemming from increased reliance on short-term debt, an $800 million Eurobond repayment due in January 2023, a still-high fiscal deficit, limited scope for additional local market financing, uncertain access to additional multilateral funding and external market financing given high borrowing costs." - Fitch's press release. Open / Comment

2022-02-10 09:46:37 US Treasury Securities

Yield Curve

UST 2Y YTM:
1.36% ( 1 bp)
UST 5Y YTM:
1.82% ( 1 bp)
UST 10Y YTM:
1.94% ( 2 bp)
UST 30Y YTM:
2.25% ( 0 bp)

The 10-yr yield decreased amid a strong $37 billion 10-yr note auction and hopeful-sounding commentary from Fed officials that inflation pressures could ease this year.

Comment: Briefing Open / Comment

2022-02-09 19:40:31 Upcoming issue

Issuer: DZ Bank

Issue description: 7-year Pfandbrief,

Date: soon Open / Comment

2022-02-09 19:39:36 Upcoming issue

Issuer: DZ Hyp

Issue description: green bonds

Date: soon

Bookrunners and Lead Managers: ABN Amro, BayernLB, NatWest Markets and UniCredit Open / Comment

2022-02-09 16:21:09 Largest EM issues of February 7-9

Issue | Volume

China
Asian Infrastructure Investment Bank (AIIB)(Aaa/AAA/AAA), 9.25% 22feb2024, RUB 2,5 bn
Listing: Luxembourg S.E.
Bookrunner: BNP Paribas
Depository: Clearstream Banking S.A., Euroclear Bank

Mexico
Comision Federal de Electricidad(Baa1/BBB/BBB-), 4.688% 15may2029, USD 1,25 bn
Initial issue price (yield): 99.98% (4.69%)
Spread to US Treasury bonds: 275 bp
Listing: Luxembourg S.E.
Bookrunner: Banco Santander, Bank of Nova Scotia, Barclays, BofA Securities, HSBC, JP Morgan, SMBC Nikko Capital
Depository: Clearstream Banking S.A., Euroclear Bank

Comision Federal de Electricidad(Baa1/BBB/BBB-), 6.264% 15feb2052, USD 500 mln
Initial issue price (yield): 100% (6.26%)
Spread to US Treasury bonds: 400 bp
Listing: Luxembourg S.E.
Bookrunner: Banco Santander, Bank of Nova Scotia, Barclays, BofA Securities, HSBC, JP Morgan, SMBC Nikko Capital
Depository: Clearstream Banking S.A., Euroclear Bank

Mexico (Baa1/BBB/BBB-), 2.375% 11feb2030, EUR 800 mln
Initial issue price (yield): 99.168%
Spread to mid-swaps 185 bp
The purpose of placing: General Corporate Purposes, Refinance
Listing: Luxembourg S.E.
Bookrunner: Credit Agricole CIB, Credit Suisse, Deutsche Bank, Morgan Stanley
Depository: Clearstream Banking S.A., Euroclear Bank

United Arab Emirates
Dubai Islamic Bank(A3/NR/A), 2.74% 16feb2027, USD 750 mln
Initial issue price (yield): 100% (2.74%)
Spread to US Treasury bonds: 95 bp
Listing: Irish S.E., Nasdaq Dubai
Bookrunner: Bank ABC, Dubai Islamic Bank, Emirates NBD, First Abu Dhabi Bank, HSBC, Islamic Corporation for the Development of the Private Sector (ICD), KFH Capital Investment Company, Sharjah Islamic Bank, Standard Chartered Bank
Depository: Clearstream Banking S.A., Euroclear Bank

BOND SEARCH

Largest HY issues of February 7-9

Issue | Volume

Canada
Tacora Resources (B2/B-/-), 8.25% 15may2026, USD 225 mln
Initial issue amount: 175 mln USD
Initial issue price (yield): 100% (10.41%)
Settlement Duration: 1.87 years
Bookrunner: Jefferies
Depository: Clearstream Banking S.A., DTCC, Euroclear Bank

BOND SEARCH Open / Comment

2022-02-09 14:31:04 US Treasury Securities

Yield Curve

UST 2Y YTM:
1.35% ( 5 bp)
UST 5Y YTM:
1.81% ( 5 bp)
UST 10Y YTM:
1.96% ( 4 bp)
UST 30Y YTM:
2.25% ( 3 bp)

The U.S. Treasury yield rose on Tuesday, with investors focused on inflation data due out later in the week. The 10-year yield traded as high on Tuesday, its highest level since Nov. 2019.
The U.S. Labor Department is due to release January’s consumer price index data on Thursday.

Comment: CNBC Open / Comment

2022-02-09 13:28:12 Upcoming issue

Issuer: Cades

Issue description: social bonds

Date: soon

Bookrunners and Lead Managers: BNP Paribas, Citi, Commerzbank, Natixis Open / Comment

2022-02-09 13:28:04 Upcoming issue

Issuer: Spain

Issue description: bonds

Date: soon

Bookrunners and Lead Managers: Bookrunners and Lead Managers: BBVA, BNP Paribas, Citi, Credit Agricole, Deutsche Bank, Santander Open / Comment