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 (9 – 15 Dec, 2024)
December 16, 2024
US primary market issuances dropped last week to $19.6bn vs. $24.7bn seen in the week prior to it. IG issuers took up $12.6bn of the total, led by Arthur J. Gallagher & Co.’s $4.5bn four-part deal, followed by Microchip Technology’s $2bn via two-trancher. Last week saw $6.4bn in HY issuances from the region, led by Saks Global’s $2.2bn deal and Windstream Services’ $1.4bn deal. In North America, there were a total of 31 upgrades and downgrades each, across the three major rating agencies last week. US IG funds saw $3.1bn in inflows during the week ended December 11, adding to the $2.2bn of inflows seen during the week before that. HY funds witnessed net inflows of $257mn during the same period, adding to the $422mn inflow in the prior week.
EU Corporate G3 issuances were almost unchanged at $12.2bn in the prior week. Credit Agricole Financement’s €3.25bn issuance led the tables, followed by Arkea Home Loan’s €1bn issuance and ArcelorMittal’s €1bn two-tranche issuance. The region saw 26 upgrades and 19 downgrades, across the three major rating agencies. The GCC dollar primary bond market saw $269mn in new issuances led by Saudi National Bank’s (SNB) $240mn issuance, as compared to no deals in the prior week. In the Middle East/Africa region, there were 4 upgrades and no downgrades across the major rating agencies. LatAm saw $420mn in issuances last week led by Pampa Energia’s $360mn issuance vs. $2.1bn in new issuances during the week prior to it. The South American region saw no upgrades and 9 downgrades across the rating agencies.
G3 issuance volumes from APAC ex-Japan rose to $5bn vs. $1.7bn seen in the previous week, led by ANZ’s $2.75bn four-part issuance, CCB’s $1bn issuance and Macquarie’s €700mn deal. In the APAC region, there were 6 upgrades and 13 downgrades, across the three rating agencies last week.
Go back to Latest bond Market News
Related Posts:
The Week That Was – (16th -22nd Aug)
August 23, 2021
The Week That Was (24 – 30 Jan, 2022)
January 31, 2022
The Week That Was (14 – 20 Feb, 2022)
February 21, 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.