US DOLLARS

摘要

More FIG issuance from royal bank of Canada and citigroup on Friday was due to round out a decent week of high-grade supply. RBC set initial price thoughts on a five-year bond at Treasuries plus lOObp and pulled that in by 5bp at guidance stage, while Citigroup launched a US$1.5bn tap of its 4.45% 2027 subordinated bond at Treasuries plus 233bp - its second trade of the week, after it raised US$3bn from a two-part senior note offering on Monday. Those two deals from Friday, along with a five-year issue for first horizon national corp, were due to take the week's supply to at least US$15bn. That fell short of syndicate forecasts of US$25bn for the week - there were no deals at all on Wednesday, and just three on Monday - but the smaller-than-expected volumes helped issuers to bring deals with minimal new-issue concessions.