This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
The Week That Was (19 – 25 August, 2024)
August 26, 2024
US primary market issuances stood at $21.9bn last week vs. $32.7bn in the week prior to it. IG issuers took up $21bn of the total, led by Kroger’s $10.5bn five-part deal for its planned merger with rival Albertsons, followed by Devon Energy’s $2.5bn two-part deal. HY issuances were only at $321mn with Allied Universal’s $300mn deal leading the table. In North America, there were a total of 31 upgrades and 49 downgrades across the three major rating agencies last week. US IG funds saw $345mn of inflows for the week ending August 21, adding to inflows of $1.11bn in the week prior to it. HY funds saw $1.91bn in inflows, adding to the $1.23bn outflows seen in the week before this.
EU Corporate G3 issuances jumped higher last week to $21.7bn vs. only $3.9bn in the week prior to it. KfW’s €3bn deal and BMW’s €1.5bn two-trancher led the tables, followed by ABN Amro, BNP Paribas and ING Groep’s €1.25bn deals each. The region saw 31 upgrades and 11 downgrades, across the three major rating agencies. The GCC dollar primary bond market saw $570mn in new deals led by FAB Sukuk’s $490mn issuance, after seeing three consecutive weeks of no new deals. In the Middle East/Africa region, there was 1 upgrade and 5 downgrades across the major rating agencies. LatAm also saw $812mn in new deals led by Agrotecnolia’s $808mn issuance, after seeing no issuances for two consecutive weeks. The South American region saw 1 upgrade and downgrade each across the rating agencies.
G3 issuance volumes from APAC ex-Japan stood at $3.2bn vs. $2.1bn in the week prior to it. NAB’s €1.25bn deal led the table, followed by Bocom Leasing’s $650mn dual-trancher and BOC Dubai’s $400mn deal. In the APAC region, there were 12 upgrades and 3 downgrades across the three rating agencies last week.
Go back to Latest bond Market News
Related Posts:
1, 2, 3, 4th Fed Hike!
June 14, 2017
The Week That Was – (16th -22nd Aug)
August 23, 2021
The Week That Was (24 – 30 Jan, 2022)
January 31, 2022
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.