Cbonds Global

2022-06-14 19:07:51 Upcoming issue

Issuer: Bpifrance

Issue description: bond

Date: issuer will have one on one investor calls from June 15 to 17

Bookrunners and Lead Managers: BNP Paribas, Crédit Agricole, Natixis, NatWest Markets and Société Générale Open / Comment

2022-06-14 18:51:34 Upcoming issue

Issuer: The European Financial Stability Facility

Issue description: June 2032 bond

Date: soon

Bookrunners and Lead Managers: Citi, HSBC and Société Générale Open / Comment

2022-06-14 11:43:03 ​​ Bond Search: Mailing of New Issues by Saved Requests

On the Cbonds website, you can now receive a daily newsletter with lists of new bonds that meet your saved search criteria.

The notification will be sent to you by email and Telegram daily.

You can subscribe to the mailing list in your account on the user settings tab. Open / Comment

2022-06-14 09:55:26 Rating Actions in Foreign Currency on June 13, 2022

Moody's affirmed Rwanda at 'B2' with the negative outlook. Open / Comment

2022-06-14 09:54:44 US Treasury Securities

Yield Curve

UST 2Y YTM:
3.40% ( 34 bp)
UST 5Y YTM:
3.56% ( 31 bp)
UST 10Y YTM:
3.43% ( 24 bp)
UST 30Y YTM:
3.42% ( 22 bp)

U.S. Treasuries began the week on a sharply lower note, making for a continuation of the aggressive post-CPI selling from Friday.

Comment: Briefing Open / Comment

2022-06-13 16:35:24 Largest EM issues of June 8-13

Issue | Volume

Bahamas
Bahamas(Ba3/B+/-), 9% 16jun2029, USD 385 mln
Bookrunner: Goldman Sachs, Oppenheimer

China
Bank of China (Frankfurt Branch)(A1/-/-), 3.125% 16jun2025, USD 500 mln
Initial issue price (yield): 99.861%
Bookrunner: Agricultural Bank of China, BNP Paribas, Banco Santander, Bank of China, Bank of Communications, CCB International, CLSA, CNCB Capital, China Merchants Bank, China Securities (International) Finance, Citigroup, Credit Agricole CIB, Deutsche Bank, HSBC, ICBC, Industrial Bank, Mizuho Financial Group, Natixis, SMBC Nikko Capital, SinoPac Securities
Depository: Clearstream Banking S.A., Euroclear Bank

Honduras
Central American Bank for Economic Integration(Aa3/AA/Withdrawn), 1.5462% 30nov2026, CHF 155 mln
Initial issue price (yield): 100%
Spread to mid-swaps: 50 bp
Listing: SIX
Bookrunner: BNP Paribas, Credit Suisse
Depository: Clearstream Banking S.A., Euroclear Bank

Hungary
Hungary(Baa2/BBB/BBB), 4.25% 16jun2031, EUR 750 mln
Initial issue price (yield): 98.161%
Bookrunner: BNP Paribas, Deutsche Bank, Goldman Sachs, ING Bank, JP Morgan
Depository: Clearstream Banking S.A., DTCC, Euroclear Bank

Hungary(Baa2/BBB/BBB), 5.25% 16jun2029, USD 1,75 bn
Initial issue price (yield): 98.792%
Bookrunner: BNP Paribas, Deutsche Bank, Goldman Sachs, ING Bank, JP Morgan
Depository: Clearstream Banking S.A., DTCC, Euroclear Bank

Hungary(Baa2/BBB/BBB), 5.5% 16jun2034, USD 1,25 bn
Initial issue price (yield): 97.188%
Bookrunner: BNP Paribas, Deutsche Bank, Goldman Sachs, ING Bank, JP Morgan
Depository: Clearstream Banking S.A., DTCC, Euroclear Bank

Jordan
Jordan(B1/B+/BB-), 7.75% 15jan2028, USD 650 mln
Initial issue price (yield): 99.098%
Bookrunner: Citigroup, Goldman Sachs, HSBC
Depository: Clearstream Banking S.A., Euroclear Bank

Romania
Raiffeisen Bank Romania(Baa1/-/-), 8.927% 15jun2027, RON 525 mln
Initial issue price (yield): 100% (8.93%)
The purpose of placing: Refinance, Bail-in
Listing: Bucharest S.E.
Bookrunner: RBI Group
Depository: Clearstream Banking S.A., Euroclear Bank

BOND SEARCH Open / Comment

2022-06-10 18:35:32 Upcoming issue

Issuer: Van Lanschot Kempen

Issue description: €500m long five year deal

Date: is conducting an investor roadshow on Friday and next Monday

Bookrunners and Lead Managers: ABN Amro, Credit Suisse, LBBW, Natixis and Rabobank Open / Comment

2022-06-10 16:15:23 Largest EM issues of June 8-10

Issue | Volume

Hong Kong
Bangkok Bank (Hong Kong Branch)(Baa1/-/-), 4.3% 15jun2027, USD 750 mln
Initial issue price (yield): 99.866% (4.33%)
Spread to US Treasury bonds: 133 bp
The purpose of placing: General Corporate Purposes
Listing: SGX
Bookrunner: Citigroup, JP Morgan, Morgan Stanley
Depository Clearstream Banking S.A., Euroclear Bank

New World Development, 5.875% 16jun2027, USD 200 mln
Initial issue price (yield): 99.808% (5.92%)
Spread to US Treasury bonds: 290 bp
The purpose of placing: Refinance
Listing: Luxembourg S.E.
Bookrunner: HSBC, Mizuho Financial Group, Morgan Stanley, Standard Chartered Bank, UBS
Depository: Clearstream Banking S.A., Euroclear Bank

New World Development, 6.15% perp., USD 500 mln
Initial issue price (yield): 100% (6.15%)
Spread to US Treasury bonds: 320.1 bp
The purpose of placing: Refinance
Listing: Hong Kong S.E.
Bookrunner: HSBC, Mizuho Financial Group, Morgan Stanley, Standard Chartered Bank, UBS
Depository: Clearstream Banking S.A., Euroclear Bank

China
Qingdao Jiaozhou Bay Development(-/-/BBB-), 4.9% 16jun2025, USD 300 mln
Initial issue price (yield): 100% (4.90%)
The purpose of placing: Refinance
Listing: Hong Kong S.E.
Bookrunner: CITIC Securities International, CNCB Capital, Central Wealth Securities Investment, China Galaxy International Securities, China Merchants Bank, China Minsheng Banking, China Securities (International) Finance, Donghai Securities, Guoyuan Securities, Haitong International Securities Group, Hua Xia Bank, Industrial Bank, Shenwan Hongyuan Group, Sunriver Holding Group, TF International Securities Group, Tensant Securities, Zhongtai International Securities
Depository: Clearstream Banking S.A., Euroclear Bank

Shandong Guohui Investment(Baa2/-/BBB+), 4.7% 15jun2025, USD 500 mln
Initial issue price (yield): 100% (4.70%)
The purpose of placing: Refinance
Listing: Hong Kong S.E.
Bookrunner: Bank of China, CITIC Securities International, CLSA, CNCB Capital, Central Wealth Securities Investment, China Everbright Bank, China Galaxy International Securities, China International Capital Corporation (CICC), China Securities (International) Finance, China Zheshang Bank, Hua Xia Bank, Huatai Securities, ICBC, Luso International Banking, Shanghai Pudong Development Bank, Shenwan Hongyuan Group, Zhongtai International Securities
Depository: Clearstream Banking S.A., Euroclear Bank
Legal adviser to the arrangers: Herbert Smith Freehills, Hiways Law Offices
Legal adviser to the issuer: Deacons, Walkers

BOND SEARCH Open / Comment

2022-06-10 09:57:43 US Treasury Securities

Yield Curve

UST 2Y YTM:
2.83% ( 5 bp)
UST 5Y YTM:
3.07% ( 4 bp)
UST 10Y YTM:
3.04% ( 1 bp)
UST 30Y YTM:
3.18% ( 0 bp)

U.S. Treasury yields moved higher on Thursday as investors assessed the latest move from the European Central Bank and awaited key jobs and inflation data this week. The White House has acknowledged that it expects an uptick in inflation on Friday.

Comment: CNBC Open / Comment

2022-06-09 19:56:54 Upcoming issue

Issuer: Finland’s POP Mortgage Bank

Issue description: five year maturity euro covered bond

Date: soon

Bookrunners and Lead Managers: LBBW, Nordea and SEB Open / Comment