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 Sep, 2024)
September 16, 2024
US primary market issuances dropped marginally to $45.3bn vs. $49.1bn in the week prior to it. IG issuers took up $35.2bn of the total, led by HPE’s $9bn and ONEOK’s $7bn six-part offerings each, and Citigroup’s $4.1bn two-trancher. Last week saw $10.1bn in HY issuances from the region, led by Alliant’s $1.7bn and Perrigo’s $1.4bn two-part offerings each. In North America, there were a total of 31 upgrades and 30 downgrades across the three major rating agencies last week. US IG funds saw $1.84bn of inflows for the week ending September 11, adding to inflows of $1.46bn in the week prior to it. HY funds saw $632.7mn of inflows reversing the marginal $2.97mn in outflows in the week before this.
EU Corporate G3 issuances fell sharply last week to $28.7bn vs $52.9bn in the week prior to it. Caixabank raised €2bn via two separate issuances, followed by Connect Finco’s $1.8bn deal and UniCredit’s €1bn AT1 deal. The region saw 32 upgrades and 16 downgrades, across the three major rating agencies. The GCC dollar primary bond market saw total issuances of $1.1bn compared to $7.6bn in issuances in the week. This was led by Qatar Islamic Bank’s $750mn deal and PNC Investment Authority’s $230mn issuance. In the Middle East/Africa region, there were 10 upgrades and 1 downgrade across the major rating agencies. LatAm saw $3.1bn in issuances last week vs $5.9bn in the prior week. This was led by Fiemex Energia’s $1.5bn deal, and Raizen’s $1bn issuance. The South American region saw 2 upgrades and downgrades each, across the rating agencies.
G3 issuance volumes from APAC ex-Japan stood at $5.5bn vs. $12.9bn in the week prior to it. APA Group’s $1.25bn two-trancher deal led the table, followed by ANZ Group’s $1.1bn two-trancher and Vedanta’s $900mn issuance. Separately, Standard Chartered’s S$750mn AT1 deal also completed the list of popular deals in the Asian region. In the APAC region, there were 30 upgrades and 7 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.