Banks

KfW and the Province of Ontario will hit separate parts of the dollar curve on Wednesday, with the former circulating what one on-looking banker described as “punchy” price thoughts. The deals followed a well-received floating rate note from a German Land that doubled in size.

Wednesday will be debut day in the green bond market, with Ireland preparing a 12 year inaugural euro benchmark and Société du Grand Paris (SGP) out with a 10 year that will also be its first bond issue of any kind. Both must contend with a market backdrop rife with Italian politics-driven turbulence, although SGP’s deal has so far had what one lead called “one of the strongest starts I’ve seen for a French issuer”.

Newlon Housing Trust, a north and east London housing association rated A3 by Moody's, has returned to the US private placement market, raising £135m.

The UK Debt Management Office won big demand for a reopeing of its longest outstanding bond on Tuesday, with a final order book that was over five times covered.

The European Stability Mechanism completed over 50% of its funding target for the fourth quarter on Tuesday with its first three year euro benchmark since 2015.

The European high yield market appeared unfazed by the spike in Italian risk despite its heavy exposure, with calm secondary trading and Italian names daring to roadshow for new bonds.

Ireland’s CDB Aviation has signed a $700m secured portfolio financing facility from eight banks, as the company looks to diversify its funding sources.

UK electricity distributor Western Power Distribution returned to the corporate bond market on Tuesday for its regular annual fourth quarter outing, but this time had to accept a significant new issue premium as it raised £350m.

German car manufacturer Volkswagen livened up investors’ Tuesday with a new triple-tranche deal.

MUFG has put in place a new management structure, which sees a number of its businesses run globally but from outside Japan. The bank has also crowned several regional and deputy regional heads.

One of Europe’s major electricity producers, Portugal’s EDP sold its first green bond on Tuesday, aligning its fundraising with the company’s green principles.

Russia’s Ural Mining and Metallurgical Company (UMMC) has signed its debut syndicated loan, as lenders remain resolute that sanctions have not made the country a no-go zone.