FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CREDIT SUPPLY: FIG Primary Monitor

CREDIT SUPPLY
  • KBC (KBCBB: A3/A-/A) is issuing AT1 today, we see fair value around 6.1% yield area.
  • BAWAG Group (BGAV: Baa2) is issuing AT1 today, we see fair value around 6.85% yield area.
  • Piraeus (TPEIR: Ba2 pos/B+/BB pos) is issuing Tier 2 sub debt, we see fair value around MS+295-300bp area. Books are above EUR1.25bn.
  • Macquarie Bank (MQGAU: A1/BBB+/A) is issuing green senior unsecured, we see fair value around MS+95-100bp area. Books are above EUR1bn.
  • Caixabank (CABKSM: Baa2/BBB pos/BBB+ pos) issuing two tranches this morning. On the social 8NC7 SNP, we see fair value around MS+140bp area, noting the slightly higher cash price on the 5.125% 34s. Books are above EUR3bn across both tranches.
  • Hamburg Commercial (HCOB: A3) issuing senior preferred, we see fair value at MS+115bp area. Books are above EUR1bn.
  • Hellenic Bank (HBCY: Ba2 pos/BBB-) senior pref IPT is 4.5% yield area.

GBP issues:

  • NatWest (NWG: A3/BBB+/A) issuing long 10NC5 Tier 2 sub debt, we see fair value at MS+220bp area, UKT+213bp area.
  • Just Group (JUSTLN: BBB) GBP400m 10.5yr sustainable Tier 2
  • Mandate: Coop Bank (COOPBK: Ba2 pos) GBP400m 4NC3 senior green bond.
BulletCredit Bullets
BulletCredit Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.