MNI BRIEF: China Pork Prices Climb For 5th Straight Week

MNI EM China Daily Summary: Monday, April 8

MNI: PBOC Conducts Net CNY2 Bln Via OMO Mon; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.0947 Mon; -4.91% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.0947 MON VS 7.0949

EZ/UK T-Bill Calendar: Spain, Belgium, Finland Auction Tuesday

BoC Data Watch

RBNZ Data Watch

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Green NGEU Syndication Preview

EUROZONE ISSUANCE
  • The EU will come to the market today to hold a syndication for its inaugural Green bond, a long 15-year Feb-37 for E12bln (WNG).
  • This is in line with MNI's expectation of a 15/25-year maturity bond with a E10-15bln transaction size.
  • Demand is expected to be huge. Green bond launches across EGB sovereign bond markets have generally seen much larger demand than non-green issues. Given the book sizes for the EU's transactions over the past year, we not be at all surprised to see another book in excess of E100bln.
  • Up to 30% of the E800bln EU funding planned by the end of 2026 will be made up of green bonds.
  • Following today's transaction, the EU will have E11.5bln of its E80bln planned issuance remaining (in two planned auctions and one more syndication). We think that next month's syndication could see a 25-year EU-bond launched.
  • Timing: The four NGEU syndications so far have seen books open around 8:00BST/9:00CET with final terms for the past three syndications seeing final terms between 8:59-9:16BST. The last syndication priced just after 13:00BST, much earlier than the previous three transactions which priced between 14:19-16:00BST.
Homepagemarkets-real-timeBulletMarketsFixed Income 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.