Cbonds Global

2022-06-09 19:50:19 Upcoming issue

Issuer: AIIB

Issue description: three year Global sustainable development bond

Date: soon

Bookrunners and Lead Managers: BNP Paribas, Citi, Deutsche Bank and TD Securities Open / Comment

2022-06-09 16:10:18 Largest EM issues of June 7-9

Issue | Volume

China
The Island Of Zhoushan New District Of Penglai State Owned Assets Investment, 3.9% 14jun2025, USD 150 mln
Initial issue price (yield): 100% (3.90%)
The purpose of placing: Working Capital, Project Finance
Listing: Hong Kong S.E.
Bookrunner: Guotai Junan Securities, Huatai Securities
Depository: Clearstream Banking S.A., Euroclear Bank

BOND SEARCH Open / Comment

2022-06-09 13:18:28 ​​ The Cbonds website now provides online currency data

Our clients can find online quote data for currency pairs from the largest Forex broker OANDA.

Cbonds users can now obtain information about more than 1,000 currency pairs, which are updated every minute. Our database includes not only the most traditional currency pairs, but also very exotic ones, for example, USD/CNH, USD/DKK, and EUR/TRY. In addition to currency pairs, users can also find precious metal rates on the platform.

You can view online quotes through the Indices section Index Search, then select the category Currencies Market Forex. Open / Comment

2022-06-09 12:26:42 In the last 2 weeks, $ 12.8 blnhas been raised in the field of green sovereign bonds

In the last 2 weeks, $ 12.8 bln (€ 12 bln) has been raised in the field of green sovereign bonds. It is a positive sign of momentum for the sector which was frozen after the outbreak of the conflict in Ukraine. In fact, according to Unicredit, Green Bond sales since the beginning of the year have been around € 6 bln less than in 2021.

The gap, in the period between March and May, was even greater. Affected by the volatility and uncertainty of the markets, issues had been only € 18 bln as of 23 May. 8 less than the € 26 bln issued in 2021. Subsequently, however, first Austria and then also France and Germany contributed to the improvement of the situation. Indeed, on May 24, Austria sold its first ever € 4 bln Green Bond. France subsequently launched its first inflation-linked Green Brond while Germany reopened a 30-year issue.

The Netherlands is now expected to reopen their green bond in June; the first Greek green issue and a new German Green Bond expected for the second half of 2022 are expected. Italy is also awaiting, planning a new Green Bond in the near future.

Thanks to the European Union project renamed "REPowerEU" it is estimated that the EU will become the largest Green Bond issuer in the world with emissions up to € 250 bln by 2026. The money will be invested in the new European green economy in order to to modernize the energy sources of the member countries and to cut dependence on Russian energy. These choices will lead to a strong increase in green issues in the coming years, in fact the Italian bank Intesa Sanpaolo predicts that the issues of green sovereign bonds in the euro area will rise to around 60 bln euros this year from the 50 bln euros in 2021. Finally, the European Commission will also raise an additional € 30 bln in 2022, a sharp increase from the EU's first green issue of last year's 12 bln. Open / Comment

2022-06-09 09:58:52 US Treasury Securities

Yield Curve

UST 2Y YTM:
2.78% ( 3 bp)
UST 5Y YTM:
3.03% ( 4 bp)
UST 10Y YTM:
3.03% ( 5 bp)
UST 30Y YTM:
3.18% ( 5 bp)

U.S. Treasury yields climbed on Wednesday as investors await a key inflation indicator and assess signs of slowing economic growth. The rise for U.S. Treasury yields mirrored similar moves in Europe, where the European Central Bank is following the Federal Reserve in tightening monetary policy.

Comment: CNBC Open / Comment

2022-06-08 18:06:12 A2A has launched the issue of a new senior unsecured green bond

The multi-utility company A2A has launched the issue of a new senior unsecured green bond for the amount of 500 million €.

The issue will have a duration of 4 years (maturity 15 June 2026) and will have Imi-Intesa Sanpaolo and Santander (B&D) as global coordinator of the operation. Joint Bookrunners are Bbva, Bnp Paribas, Credit Agricole Cib, Goldman Sachs, Imi-Intesa Sanpaolo, Mediobanca, Santander, UniCredit. It will be denominated in euros and will offer a fixed rate coupon. According to initial indications, it would be 120 basis points higher than the “midswap” rate.

The proceeds from new issues retrace within the framework of the initiatives implemented by the company for sustainable finance (18 billion in "green" investments in ten years, of which 11 are destined for the energy transition and 7 for the circular economy). In particular, A2A's focus is on renewable energy and energy efficiency.

As for the rating, the agencies assign average ratings: BBB for S&P and Baa2 for Moody's. Open / Comment

2022-06-08 16:33:45 Largest EM issues of June 6-8

Issue | Volume

China
Changchun City Development Group, 5% 14jun2025, USD 200 mln
Initial issue price (yield): 100% (5.00%)
The purpose of placing: Refinance
Listing: Hong Kong S.E.
Bookrunner: China Everbright Bank, China Minsheng Banking, Guoyuan Securities, HSBC, HUATAI FINANCIAL HOLDINGS (HONG KONG), Huaan Securities, Ping An Bank
Depository: Clearstream Banking S.A., Euroclear Bank
Legal adviser to the issuer: Clifford Chance, Ogier, Shandong

China Construction Bank(A1/A/A), 2.85% 13jun2024, SGD 350 mln
Initial issue price (yield): 100% (2.85%)
The purpose of placing: General Corporate Purposes
Listing SGX
Bookrunner: ANZ, Agricultural Bank of China, Bank of China, CCB International, CLSA, CTBC, China International Capital Corporation (CICC), DBS Bank, HSBC, ICBC, OCBC, Standard Chartered Bank, United Overseas Bank
Depository: Clearstream Banking S.A., Euroclear Bank

Qingdao Jimo District Urban Development Investment, 4.5% 9jun2025, USD 110 mln
Initial issue price (yield): 100% (4.50%)
The purpose of placing: Working Capital, Project Finance
Listing: Hong Kong S.E.
Bookrunner: CNCB Capital, Central Wealth Securities Investment, China Galaxy International Securities, China Industrial Securities International Financial Group, Guoyuan Securities, Industrial Bank, Luso International Banking
Depository: Clearstream Banking S.A., Euroclear Bank

BOND SEACH Open / Comment

2022-06-08 14:49:30 Upcoming issue

Issuer: Hurtigruten

Issue description: €25m to its February 2025 green bond

Date: soon

Bookrunners and Lead Managers: Danske Bank and DNB Markets Open / Comment

2022-06-08 14:34:46 Upcoming issue

Issuer: Vienna Insurance Group (VIG)

Issue description: €500m 20 year non-call tier two offering

Date: soon

Bookrunners and Lead Managers: BNP Paribas, Erste Bank, HSBC, JP Morgan and UniCredit Open / Comment

2022-06-08 14:33:09 Upcoming issue

Issuer: Helaba

Issue description: 10.25 year non-call 5.25 deal

Date: soon

Bookrunners and Lead Managers: Barclays, Commerzbank, Deutsche Bank, NatWest Markets, UBS, UnicCedit Open / Comment