Barclays

The New Development Bank has appointed the syndicate to lead its second dollar benchmark, the proceeds of which will fund its coronavirus response.

The UK Debt Management Office has selected the banks which will lead its second syndicated transaction of the month, a tap of its 0.5% 2061 conventional Gilt.

Seven Yankee banks stole a march this week in the race to frontload funding, as September got off to its usual red-hot start in dollars.

Chinese property developer Xinyuan Real Estate Co, whose outstanding bonds have suffered because of the Covid pandemic, opted for size over price for its $300m return this week.

Issuance in Europe’s high grade corporate market trended towards high beta names this week, with a spate of deals from riskier names, including the first outing for German fallen angel ZF Freidrichshafen since its downgrade.

Banco BPM struggled to build much of an order book behind a new tier two bond this week, with bankers arguing that investors have become more selective with their exposures to southern European names.

Österreichische Kontrollbank (ÖKB) kept up the strong momentum from European public sector borrowers in the dollar market on Thursday with a well received five year deal which priced through its own curve.

Two public sector borrowers managed to get euro deals done in the primary market ahead of the European Central Bank’s governing council meeting on Thursday, with World Bank issuing its biggest ever bond in euros longer than 10 years and Hamburg comfortably crossing the line despite an embarrassing start to the execution process.

The City of Hamburg began taking indications of interest with initial price thoughts for a 30 year bond on Wednesday afternoon ahead of schedule after one of the leads accidentally sent out a message announcing the official opening of order books.

Bevco, an investment holding company (holdco) owned by the Santo Domingo family; French transport infrastructure company Holding d’Infrastructures de Transport and Irish safety conglomerate Johnson Controls drummed up €12.4bn of demand between them on Wednesday, as investors piled into high grade corporates in the primary market.

The EIB kicked off the post-Labor Day SSA dollar market on Wednesday with a five year deal, it's third of the year. Oesterreichische Kontrollbank (OeKB) is set to follow, having mandated for its second five year dollar deal of the year.

Italian lender Credito Emiliano opened books on a new €200m tier two on Wednesday, as it looked to improve its financial position in a strong market for subordinated debt.