Cbonds Global

2022-01-12 17:53:08 Upcoming issue

Issuer: SpareBank 1 Boligkreditt

Issue description: six-year covered bonds

Date: this week

Bookrunners and Lead Managers: BNP Paribas, Commerzbank, DZ Bank, Swedbank Open / Comment

2022-01-12 17:44:25 Upcoming issue

Issuer: Sparebanken Vest Boligkreditt

Issue description: ten-year covered bonds

Date: this week

Bookrunners and Lead Managers: Danske Bank, Deutsche Bank, HSBC, LBBW, Natixis, NordLB and Unicredit Open / Comment

2022-01-12 17:27:51 Upcoming issue

Issuer: Cyprus

Issue description: ten-year trade

Date: soon

Bookrunners and Lead Managers: Deutsche Bank, Barclays, Citi, Goldman Sachs, HSBC Open / Comment

2022-01-12 17:24:05 Upcoming issue

Issuer: Ireland

Issue description: ten-year deal

Date: soon

Bookrunners and Lead Managers: Barclays, Cantor Fitzgerald, Citi, Danske Bank, JP Morgan, Morgan Stanley Open / Comment

2022-01-12 16:55:52 Cbonds Global Monthly Newsletter Issue Statistic and League Tables for December 2021

The report gives data on global EM and DM, regions Asia, LatAM, CEE, CIS, the Middle East and Africa, and country pages for Russia and the USA. Newsletter also provides ESG debt instruments data and statistics on international bond market debut issuers.

Download the report (for free after registration): GLOBAL MONTHLY NEWSLETTER

December 2021 Highlights:

The amount of new issues significantly decreased in December compared to November 2021. The amount in EM and DM markets didn't outperform the numbers of the last year — -63% and -75%, respectively, compared to December 2020.

Only Latvia among sovereigns tapped the global debt market in December 2021, placing Eurobond for a total of EUR 600.9 mln.

Amount of new Eurobonds issued in December 2021 is minimal for two years.

Debut issuers raised $20.4 bn on the international bond market in November. Emerging market issues made up only 20% of all debut Eurobonds.

The amount of new ESG issues placed in 2021 reached $365 bn. This month's amount of newly issued ESG bonds is the smallest in 2021: $10.3 bn. Green bonds still represent the largest part of all ESG issues placed in 2021 - 62%. Open / Comment

2022-01-12 16:28:52 Largest EM issues of Januarу 10-12

Issue | Volume

India
Shriram Transport Finance (-/BB-/BB), 4.15% 18jul2025, USD 475 mln
Initial issue price (yield): 100% (4.15%)
Listing: SGX
Bookrunner: Axis Bank, BNP Paribas, Barclays, Citigroup, Credit Suisse, DBS Bank, Deutsche Bank, Emirates NBD, HSBC, JP Morgan, Mitsubishi UFJ Financial Group, SMBC Nikko Capital, Standard Chartered Bank
Depository: Clearstream Banking S.A., Euroclear Bank

Brazil
Banco Bradesco (Grand Cayman Branch) (Ba2/-/-), 4.375% 18mar2027, USD 500 mln
Initial issue price (yield): 99.99% (4.38%)
Depository: Clearstream Banking S.A., Euroclear Bank
Bookrunner: BNP Paribas, Banco Bradesco, BTG Pactual Holding, Citigroup, JP Morgan, UBS. Open / Comment

2022-01-12 16:27:13 Largest EM issues of Januarу 10-12

Issue | Volume

China
Agricultural Bank of China (New York Branch) (A1/-/-), 1.5% 18jan2025, USD 400 mln
Initial issue price (yield): 99.772% (1.58%)
Spread to US Treasury bonds: 35 bp
The purpose of placing: General Corporate Purposes
Listing: Hong Kong S.E.
Bookrunner: Agricultural Bank of China, Bank of China, Bank of Communications, BofA Securities, CCB International, China Everbright Bank, China International Capital Corporation (CICC), China Merchants Bank, Chiyu Banking Corporation, Citigroup, Credit Agricole CIB, DBS Bank, HSBC, Haitong International Securities Group, Industrial Bank, Mizuho Financial Group, Shanghai Pudong Development Bank, Standard Chartered Bank
Depository: Clearstream Banking S.A., Euroclear Bank

Agricultural Bank of China (New York Branch)(A1/-/-), 2% 18jan2027, USD 300 mln
Initial issue price (yield): 99.905% (2.02%)
Spread to US Treasury bonds: 47 bp
The purpose of placing: Refinance
Listing: Hong Kong S.E.
Bookrunner: Agricultural Bank of China, Bank of China, Bank of Communications, BofA Securities, CCB International, China Everbright Bank, China International Capital Corporation (CICC), China Merchants Bank, Chiyu Banking Corporation, Citigroup, Credit Agricole CIB, DBS Bank, HSBC, Haitong International Securities Group, Industrial Bank, Mizuho Financial Group, Shanghai Pudong Development Bank, Standard Chartered Bank
Depository: Clearstream Banking S.A., Euroclear Bank

Beijing Gas Group (A3/A-/A), 1.875% 18jan2025, USD 500 mln
Initial issue price (yield): 99.725%
Spread to US Treasury bonds: 75 bp
The purpose of placing: Refinance
Listing: Hong Kong S.E.
Bookrunner: CLSA, China Securities (International) Finance, Citigroup, DBS Bank, HSBC, Haitong International Securities Group, ICBC, Mizuho Financial Group, OCBC, Orient Securities International Holdings
Depository: Clearstream Banking S.A., Euroclear Bank

Guangzhou Development District Holding Group (Baa1/-/BBB+), 2.85% 19jan2027, USD 490 mln
Initial issue price (yield): 100% (2.85%)
The purpose of placing: Working Capital, Refinance
Listing: SGX, Hong Kong S.E., Chongwa (Macao) Financial Asset Exchange
Bookrunner: Agricultural Bank of China, Bank of China, Bank of Communications, CLSA, CNCB Capital, China Everbright Bank, China International Capital Corporation (CICC), Guotai Junan Securities, Haitong International Securities Group, ICBC, Industrial Bank, Shanghai Pudong Development Bank
Depository: Clearstream Banking S.A., Euroclear Bank

Philippines
Asian Development Bank (ADB) (Aaa/AAA/AAA), 1.5% 20jan2027, USD 3,5 bln
Initial issue price (yield): 99.431% (1.62%)
Spread to US Treasury bonds: 8.73 bp
Spread to mid-swaps: 22 bp
Listing: Luxembourg S.E.
Bookrunner: BofA Securities, Citigroup, Deutsche Bank, JP Morgan

Asian Development Bank (ADB)(Aaa/AAA/AAA), 6.55% 26jan2025, ZAR 500 mln
Initial issue price (yield): 100% (6.55%)
Listing: Luxembourg S.E.
Bookrunner: Standard Chartered Bank
Depository: Clearstream Banking S.A., Euroclear Bank

Czech Republic
CPI Property Group (Baa2/BBB/-), 1.75% 14jan2030, EUR 700 mln
Initial issue price (yield): 98.046% (2.02%)
Spread to mid-swaps: 175 bp
The purpose of placing: General Corporate Purposes, Refinance
Listing: Irish S.E.
Bookrunner: Bank of China, Barclays, Goldman Sachs, HSBC, Societe Generale, UniCredit
Depository: Clearstream Banking S.A., Euroclear Bank

Hong Kong
HKT Capital No.6, 3% 18jan2032, USD 650 mln
Initial issue price (yield): 99.923% (3.01%)
Spread to US Treasury bonds: 125 bp
The purpose of placing: General Corporate Purposes
Listing: SGX
Bookrunner: DBS Bank, HSBC, Mizuho Financial Group, Morgan Stanley, SMBC Nikko Capital, Standard Chartered Bank
Depository: Clearstream Banking S.A., Euroclear Bank Open / Comment

2022-01-12 15:49:30 Upcoming issue

Issuer: Credit Agricole Italia

Issue description: 750m ten-year and 500m twenty-year euro bonds

Date: soon

Bookrunners and Lead Managers: Credit Agricole, Banca IMI, Natixis, Raiffeiseen Bank Inernational, SEB and UniCredit Open / Comment

2022-01-12 15:48:43 Upcoming issue

Issuer: Hamburg Commercial Bank

Issue description: five-year Pfandbrief

Date: soon

Bookrunners and Lead Managers: Credit Agricole, Citi, Commerzbank, LBBW and UniCredit Open / Comment

2022-01-12 15:46:21 Upcoming issue

Issuer: BPCE

Issue description: mortgage covered bonds

Date: soon

Bookrunners and Lead Managers: Credit Agricole, BZ Bank, JP Morgan, Natixis, Santander, Bonk of Nova Scotia, Swedbank and UniCredit Open / Comment