Banks

Caisse d’Amortissement de la Dette Sociale (Cades), the agency responsible for financing and amortising French social security debt, printed a £1.5bn social bond on Wednesday — the first ever deal in that currency and format from a public sector borrower.

CPPIB Capital hit screens on Wednesday for a 10 year benchmark, confident that there is demand at that tenor despite a recent rush of similar deals.

Vonovia, the German property company, brought a 20 year bond on Wednesday which gave further proof that corporate issuers looking to offer duration will find a willing audience.

Deals are lining up in Europe’s high grade corporate bond market and bankers say even Thursday's European Central Bank meeting will not put a dent in primary demand on the day.

The decline in international and debut Schuldschein issuance last year had a disproportionate impact on non-German bank arrangers. But this year’s bright start has given them a new lease of life.

The State of Brandenburg failed to reach full subscription for a new 25 year trade on Wednesday as it priced at an exceptionally tight level to its secondary curve.

Tesco, the UK grocer, made a storming debut in the sustainability-linked bond market on Wednesday, encouraging bankers who already expect corporate issuance using the novel structure to rocket this year.

Gazprom, the Russian state oil and gas company, this week sold a dollar bond amid growing concerns about US sanctions on the controversial Nord Stream 2 pipeline project, a wholly-owned subsidiary of Gazprom.

Higher rates and execution certainty in the dollar bond market have given investors something to get excited about, with supply from financials in the currency outstripping that in euros so far this year.

Italian prime minister Giuseppe Conte won a vote of confidence in the country's senate last night, removing the immediate threat of the government he leads collapsing. Relieved investors flocked back to Italian assets in the aftermath but Italy’s political troubles are unlikely to be over.

Deutsche Pfandbriefbank could take advantage of a quiet backdrop in the euro FIG market to launch the first deal from its green bond framework.

Apax Global Alpha, a UK investment trust, has amended the terms on its €140m revolving credit facility. The deal reflects what is expected to be a big theme in the loan market this year of borrowers tinkering with existing facilities rather than doing full refinancings.