| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers C > Headlines for Credit Agricole SA, London branch > News item |
Morning Commentary: Bank of Montreal offers sustainability bond; Finnvera, IBRD on deck
By Cristal Cody
Tupelo, Miss., Oct. 16 – Bank of Montreal is marketing an inaugural offering of dollar-denominated senior sustainability notes in the high-grade primary market on Wednesday.
The deal features registered senior medium-term notes due in 2022.
In sovereign, supranational and agency supply, Finnvera plc is offering $1 billion of notes due Oct. 23, 2024 in a Rule 144A and Regulation S transaction, according to a market source.
The notes are initially talked to price in the mid-swaps plus 19 basis points area.
Also, the International Bank for Reconstruction and Development, or World Bank, plans to price a dollar-denominated offering of global notes due Oct. 23, 2029 on Wednesday, according to a market source.
The 10-year notes are initially talked to print in the mid-swaps plus 20 bps area.
Week to date, $3.75 billion of high-grade corporate bonds have priced, led by Charter Communications, Inc.’s $1.5 billion of split-rated registered senior secured notes due March 1, 2050 and Credit Agricole SA (London Branch)’s $1.5 billion of senior notes due Jan. 22, 2025 priced on Tuesday.
The secondary market saw $18.48 billion of investment-grade corporate bonds trade on Tuesday, according to Trace data.
The U.S. bond markets were closed on Monday in observance of the Columbus Day holiday.
Deal volume is expected to be lighter over the short market week with about $10 billion to $15 billion of high-grade issuance forecasted by market participants.
Bank earnings remain in focus with the potential for financial supply following the releases, market sources report.
On Wednesday, Bank of America Corp. released its third-quarter earnings report before the financial markets opened. Morgan Stanley is scheduled to release its profit report on Thursday. JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. released quarterly results on Tuesday.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.