INR: Rupee Firms Moderately Following RBI Hold, 10-Year Yields Fall 5bps
Oct-01 10:42
USDINR (-0.11%) pulled back moderately following the RBI rate decision - albeit spot remains within ...
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CANADA: Also Set To Observe Labor Day
Sep-01 10:40
Canada will also observe the Labor Day holiday, which will further thin out wider market liquidity, as well as result in closures/reduced trading hours across Canadian markets.
US: Labor Day Exchange Schedules
Sep-01 10:39
EFSF ISSUANCE: Apr-29 / Feb-34 Tap Dual Tranche: Update
Sep-01 10:38
E1.0bln tap of the 3.5% Apr-29:
- Spread set previously at MS+9 (guidance was MS+10bps area)
- Books closed at E3.3bln
- Coupon: 3.500% (150 days accrued), Annual ACT/ACT
- Maturity: 11 April 2029
- ISIN: EU000A2SCAL3
E1.0bln tap of the 2.875% Feb-34 tap:
- Spread set previously at MS+33 (guidance was MS+34bps area)
- Books closed at E3.7bln
- Coupon: 2.875% (207 days accrued), Annual ACT/ACT
- Maturity: 13 February 2034
- ISIN: EU000A2SCAN9
Across both tranches:
- Size combined: E2.0bln (follows E3.5bln maximum combined set earlier, MNI expected E3bln but saw a chance of a smaller transaction)
- Books combined: Closed in excess of E6.5bn (incl. E500m JLMs)
- Settlement: 8 September 2025 (T+5)
- Bookrunners: LBBW / NOMURA (DM/B&D) / TD
- Denoms: EUR 1,000 x 1,000
- Target market: Professionals / Eligible Counterparties only (all distribution channels), each as defined in MiFID II
- Issuer: European Financial Stability Facility (EFSF)
- Ratings: Aaa (stable) / AA- (stable) / AA-
- Risk Weighting: 0%
- Format: RegS / Bearer Notes (TEFRA rules apply, no communications with or into the U.S.)
- Timing: Allocation and pricing to follow
As per market source.
