Banks

As Caisse des Dépôts et Consignations (CDC) returned to the sustainability bond market on Tuesday to sell its second bond in the format, fellow French agency Caisse d’Amortissement de la Dette Sociale (Cades) mandated for its own sustainability bond debut.

Ryanair left parts of the corporate bond market ‘gobsmacked’ on Tuesday, as the first benchmark-sized new issue from an airline since lockdowns from Covid-19 battered the sector managed to reprice the issuer’s curve.

The European Investment Bank hit screens with a five year dollar benchmark on Tuesday in what will be the latest in a series of European supranationals and agencies issuing bonds in this currency and maturity.

All eyes were on Italy in the primary euro public sector bond market on Tuesday as it pipped Spain for the biggest ever order book for a eurozone sovereign syndicated bond in the 20 year part of the curve.

GlaxoSmithKlein, the UK pharmaceutical company, has refinanced dollar and sterling loans using risk-free rates, in one of the biggest transactions yet to avoid using Libor as the margin benchmark.

UniCredit’s German subsidiary, HVB, unearthed demand of €2bn for its €1bn eight year Pfandbrief that priced on Tuesday. The deal will be followed by a non-deal roadshow for a second issuer from Japan.

Barclays has appointed Todd Sandoz and Paul Leech as permanent co-heads of global equities.

The Kingdom of Bahrain, one of only two sub-investment grade sovereigns in the Gulf, is tapping markets for its second bond of the year. The mandate comes just weeks after Bahrain increased its debt ceiling as Gulf states grapple with the impact of low oil prices and Covid-19 on their spending plans.

Commerzbank did not pay a premium to launch its new additional tier one (AT1) this week, as it found strong demand at the long end of the curve. The bank was returning to the market just three months after its last deal in the format.

The UK Debt Management Office raised £8bn ($10.24bn) with its first 15 year syndication on Tuesday morning, the first of two Gilt syndications it will hold during September.

Singapore-based special purpose acquisition company (Spac) Aspirational Consumer Lifestyle Corp is looking to raise $225m from a listing on the New York Stock Exchange.

The Republic of Poland, the first European country to issue a Panda bond in August 2016, has finished the documentation process for its second onshore renminbi offering, GlobalCapital China understands.