Lottomatica poised to join new issue rush

Volkswagen’s tightest deal of the year at 80bp over mid-swaps, a venture into the sterling market from Telefónica with a 13 year bond, and a dual tranche offering from Vivendi, in the company’s first deal since January — and these were only some of the highlights in a rush of new issues early this week. The market also showed it was still open to crossover credits, with triple-B rated Italian lottery group Lottomatica poised for a return in euros on Wednesday, and bankers insist there are many more such deals to come before the end of the year. Read EuroWeek on Friday to find out how all these deals were received, and what’s coming up.