Benchmark issue

Benchmark issue

Also called on-the-run or current-coupon issue or bellwether issue. In the secondary market, the benchmark issue is the most recently auctioned Treasury issues for each maturity.

Bellwether Issue

A bond with a coupon that is close to market rates. Interest rates on bonds vary from time to time according to a number of factors, but are usually locked at issue. A bellwether issue is one with an interest rate very near to the prevailing rates, regardless of when it was issued. Bellwether issues are also called benchmark issues and perhaps, most commonly, current coupons bonds.
References in periodicals archive ?
Emirates NBD's euro-denominated bond issuance, the first euro benchmark issue by a Gulf bank since 2007, allowed the bank to successfully broaden its European investor base.
In Australia, NAB s 7-year benchmark issue Climate Bond will be ring fenced for financing a portfolio of renewable energy assets including wind farms and solar energy facilities across the country.
Nasdaq: PCLN) announced today its intention to offer, subject to market and other conditions, a benchmark issue of Senior Notes in an underwritten public offering.
12, 2010, when the 10-year benchmark issue at the time finished at 0.
Islamic liquidity has also drawn interest from international players such as Goldman Sachs to create a $2 billion sukuk programme, following the success of HSBC Middle East's benchmark issue.
MI) were hired by the power company to lead-manage its planned euro senior unsecured benchmark issue.
Early yield guidance for the dual tranche benchmark issue is +200 basis points (bps) over 5-year US Treasuries for the five year tranche, and +low 200s bps over 10-year US Treasuries for the 10-year tranche, three sources said on Tuesday.
Release date- 25042009 - Raiffeisen Zentralbank Osterreich AG (RZB) yesterday successfully issued its third benchmark issue in 2009 with a volume of 1.
EARN benchmark issue reaffirmed the Bank's complementary status alongside
The step is being taken in response to a recent slide in market yields on the benchmark issue of five-year bank debentures issued by the IBJ to institutional investors.
The second benchmark issue by Compagnie de Financement Foncier on the 144A market This deal is Compagnie de Financement Foncier's second benchmark issue on the 144A market and the first following the introduction of its US MTS programme.
On 28 August 2014, the European Investment Bank ( EIB ) priced a new US Dollar benchmark issue - a USD 3 billion 7-year Global.