Barclays

Banco BPM did not need to pay a new issue premium to follow UBI Banca with the sale of an additional tier one (AT1) on Tuesday, as Italian banks make the most of an 'issuer's market' at the beginning of 2020.

Two Indonesian deals brought international investors some relief from the onslaught of Chinese bonds on Monday. Pertamina and Tower Bersama Infrastructure netted a combined $1.85bn from three tranches of notes.

Seven borrowers from Greater China raised about $2bn from new dollar bonds on Monday, while Hong Kong's Cathay Pacific tapped the Singapore dollar market.

Remarkable funding conditions drove Mexico to the euro market on Tuesday just a week after it issued in dollars as a bulging order book again suggested that investor fears over the government’s management of the economy have subsided.

The European Financial Stability Facility took the spotlight in the euro public sector bond market on Monday with an intraday execution ahead of a busy week. The European Investment Bank, Council of Europe Development Bank, Spain and Cyprus have all announced new deals.

CPPIB Capital is looking to take advantage of a red hot sterling bond market after hiring banks on Monday to prepare its debut trade in the currency.

Gradually over the past decade, Asian investors have become more and more important to European corporate private debt markets, to the point where they are now often indispensable. Asian borrowers have been slower to appear, but are now arriving. However, while these arrivals have largely benefited these markets, they have introduced a few complications.

Unione di Banche Italiane was close to 14 times subscribed for a €400m additional tier one (AT1) in the euro market on Monday, as it capitalised on expectations of scarce supply in the asset class. The debut deal means the bank will become the fourth Italian issuer of AT1 capital.

Equity capital markets investors jumped at the chance to buy shares in Nexi, the Italian payments company, as it returned with its first transaction since IPO.

BBVA founds itself alone in the euro FIG market on Friday as it launched a €1bn tier two bond on the back of €4bn of demand. The deal caps off a busy week for supply, in which investors have shown out-sized demand for the highest yielding transactions.

US private equity group Apollo Global Management has completed the first selldown of stock in Watches of Switzerland, the UK luxury watches retailer, since its flotation on the London Stock Exchange in May last year.

Shriram Transport Finance Co appealed to investors in the US by selling a social bond that flew off the shelves, allowing the Indian non-banking financial company to raise $500m.