Cbonds Global

2022-01-19 17:34:05 Upcoming issue

Issuer: Romania

Issue description: 5 and 10-year dollar bond

Date: the issue is expected later on Wednesday

Bookrunners and Lead Managers: Citi, Erste Bank, HSBC, ING, JP Morgan, Societe Generale Open / Comment

2022-01-19 16:15:21 Largest EM issues of Januarу 17-19

Issue | Volume

Philippines
Asian Development Bank (ADB) (Aaa/AAA/AAA), 0.8% 31jan2024, HKD 300 mln
Initial issue price (yield): 100% (0.80%)
Listing: Luxembourg S.E.
Bookrunner: Morgan Stanley
Depository: Clearstream Banking S.A., Euroclear Bank

Venezuela
Corporacion Andina de Fomento (CAF) (Aa3/A+/A+), 0.45% 24feb2027, CHF 350 mln
Initial issue price (yield): 100.235% (0.40%)
Spread to mid-swaps: 47 bp
Listing: SIX
Bookrunner: Credit Suisse, Deutsche Bank
Depository: Clearstream Banking S.A., Euroclear Bank, SIX SIS

Czech Republic
CPI Property Group (Baa2/BBB/-), 2.75% 22jan2028, GBP 400 mln
Initial issue price (yield): 98.68% (2.97%)
Settlement Duration: 6.46 years
Listing: Irish S.E.
Bookrunner: Barclays, Goldman Sachs, JP Morgan
Depository: Clearstream Banking S.A., Euroclear Bank
Arranger Legal Adviser (Domestic law): Allen & Overy
Arranger Legal Adviser (International law): Allen & Overy
Issuer Legal Adviser (Domestic law): Dentons
Issuer Legal Adviser (International law): Dentons

China
Guangdong Communication Group, 2.358% 25jan2027, USD 500 mln
Initial issue price (yield): 100% (2.36%)
Spread to US Treasury bonds: 75 bp
The purpose of placing: Working Capital, Project Finance, Refinance
Listing: Hong Kong S.E.
Bookrunner: Agricultural Bank of China, Bank of China, Bank of Communications, CCB International, CITIC Securities International, CLSA, China Everbright Bank, China International Capital Corporation (CICC), Emirates NBD, GF Securities, Guotai Junan Securities, Haitong International Securities Group, ICBC, Industrial Bank, Luso International Banking, OCBC, Standard Chartered Bank
Depository: Clearstream Banking S.A., Euroclear Bank

Jiaozuo City Investment Group, 5.5% 20jan2023, USD 100 mln
Initial issue price (yield): 100% (5.50%)
The purpose of placing: General Corporate Purposes, Working Capital, Project Finance, Refinance
Bookrunner: CNCB Capital, Central China Securities, Guotai Junan Securities, Guoyan Securities Investment, Shenwan Hongyuan Group
Depository: Clearstream Banking S.A., Euroclear Bank

Qatar
Qatar National Bank (Aa3/A/A+), 2.4% 25jan2027, HKD 300 mln
Initial issue price (yield): 100% (2.40%)
Listing: London S.E.
Bookrunner: HSBC
Depository: Clearstream Banking S.A., Euroclear Bank Open / Comment

2022-01-19 13:45:49 Upcoming issue

Issuer: Greece

Issue description: June 2031 deal

Date: soon

Bookrunners and Lead Managers: Barclays, Commerzbank, Eurobank, Morgan Stanley, Nomura, Societe Generale. Open / Comment

2022-01-19 13:01:27 Upcoming issue

Issuer: CDС

Issue description: 1 bln dollar deal

Date: soon

Bookrunners and Lead Managers: BNP Paribas, Citi, Daiwa, Deutsche Bank, HSBC Open / Comment

2022-01-19 13:01:18 Upcoming issue

Issuer: JFM

Issue description: green bonds

Date: soon

Bookrunners and Lead Managers: Barclays, Bank of America, Morgan Stanley, Nomura Open / Comment

2022-01-19 10:05:50 US Treasury Securities

Yield Curve

UST 2Y YTM:
1.06% ( 7 bp)
UST 5Y YTM:
1.65% ( 10 bp)
UST 10Y YTM:
1.87% ( 9 bp)
UST 30Y YTM:
2.18% ( 6 bp)

The issue for the market on Tuesday was the persistent rise in Treasury yields, which signaled growing expectations for the Fed to hike rates four times this year -- including a potential 50-bps increase in March -- to keep inflation in check.

Comment: Briefing Open / Comment

2022-01-18 19:46:38 Upcoming issue

Issuer: Cinven

Issue description: euro and dollar deal

Date: soon

Bookrunners and Lead Managers: Credit Suisse, Deutsche Bank, UBS, RBC are the bookrunners for the euro deal and Deutsche is a bookrunner only on the dollars Open / Comment

2022-01-18 19:06:14 Upcoming issue

Issuer: Raiffeisen Bank

Issue description: 6 and 15-year bond

Date: soon

Bookrunners and Lead Managers: Barclays, BNP Paribas, Commerzbank, ING, Mediobanca, Raiffaisen Bank Open / Comment

2022-01-18 19:04:09 Upcoming issue

Issuer: Bank of Montreal

Issue description: 5 to 7-year bond

Date: soon

Bookrunners and Lead Managers: BMO Capital Markets, BNP Paribas, Commerzbank, Credit Agricole CIB, Santander, UBS Open / Comment

2022-01-18 18:48:34 Upcoming issue

Issuer: OTP Bank

Issue description: euro bond

Date: soon

Bookrunners and Lead Managers: Citigroup, Societe Generale, OTP Bank, and JP Morgan Open / Comment