PERU: New PEN Benchmark 10Y Deal Announced
Jun-05 12:42
- "*NEW DEAL: PERU PEN BENCHMARK 10Y LOW-7% AREA" - BBG
- Expected to price today.
- PEN Benchmark 10Y Fixed (Aug. 12, 2035) IPT Low 7%s
- Issuer: Republic of Peru (PERU)
- Exp. Ratings: Baa1/BBB/BBB
- Format: 144A/Reg S, senior unsecured, Bonos Soberanos (the “New Soberanos”). All amounts due to bondholders will be payable in PEN
- UOP: To finance a liability management transaction and, if additional funds remain, for general purposes of the government
- Settlement: June 11, 2025 (T+4)
- Bookrunners: BNP Paribas, Citi, HSBC, Santander
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PIPELINE: Corporate Bond Update: Starbuck, DB, UBS, PNC Expected
May-06 12:41
- Date $MM Issuer (Priced *, Launch #)
- 05/06 $500M Eaton WNG 5Y +90a
- 05/06 $Benchmark Standard Chartered 6NC5 +165a, 6NC5 SOFR
- 05/06 $Benchmark Starbucks Corp 3Y, 5Y & 10Y, details TBA
- 05/06 $Benchmark Deutsche Bank 6NC5 fix/SOFR
- 05/06 $Benchmark Host Hotels & Resorts 7Y +195a
- 05/06 $Benchmark PNC 2NC1 +100a, 6NC5 +120a
- 05/06 $Benchmark Shinhan Bank 5Y +110a
- 05/06 $Benchmark Gold Fields 7Y +210a
- 05/06 $Benchmark UBS 11NC10 +160a
US TSYS: Post-Trade Balance React
May-06 12:35
- Treasury futures still mixed but holding near recent highs after March Trade Gap widens to to record $140.5B.
- Tsy Jun'25 10Y futures currently +3 at 111-05 vs. 111-05.5 high (10Y yld at 4.3355%), initial technical resistance well above at 112-01.5 (High May 2).
- For bulls, price needs to trade above key short-term resistance at 112-20+, the May 1 high, to reinstate a bullish theme.
- Cross asset: BBG US$ index near recent low at 1219.75 (-1.02); stocks weaker: S&P eminis -50.75 at 5621.0.
CANADA MAR EXPORTS TO U.S. -6.6%, MOST SINCE APRIL 2020
May-06 12:30
- CANADA MAR EXPORTS TO U.S. -6.6%, MOST SINCE APRIL 2020
- CANADA TRADE BALANCE WITH U.S. +CAD8.4B AFTER +CAD10.8B IN FEB
- CANADA TRADE SURPLUS WITH U.S. DOWN FROM JAN RECORD +CAD13.8B
- CANADA GLOBAL MAR TRADE BAL -CAD0.5B, PRIOR -CAD1.4B
