Barclays

French construction company Vinci took advantage of a lull in supply and favourable financing conditions to make its long-awaited dollar market debut.

Sovereign, supranational and agency (SSA) issuers burst into the second quarter with a scorching week that saw plenty of big books and minimal or negative premiums.

Two renewable energy companies achieved successful euro bond issues on Thursday. Norsk Hydro, the Norwegian aluminium and renewable energy firm, and ERG, the Italian wind energy group, issuing in green format, both tightened their prices and finished with plenty of over-subscription in their books.

Barclays’ corporate and investment bank has reached the endgame in its fight to boost returns following the departure of Tim Throsby, as group CEO Jes Staley takes control for the second time in three years.

Four new corporate bonds hit the market on Wednesday. In a change from recent days, all the deals were of moderate size and single tranched. Terna, the Italian grid operator, and Banque PSA France were typical in launching €500m no-grow deals. Book sizes diverged strongly, with those two issuers getting heavy oversubscription, while Aroundtown and Voestalpine had much less.

Axilone, the beauty product packaging firm, has launched an add-on to its first lien term loan. The money will be used to refinance the second lien debt it took out in January 2018, to part-fund its buyout by Citic Capital.

The European Financial Stability Facility and Council of Europe Development Bank left little on the table with their euro bond issues on Wednesday. More supply is expected, as three more borrowers have picked banks for deals expected this week.

The Inter-American Development Bank closed the books on a £500m tap of its December 2023 bonds on Wednesday, finding success in a sterling market that bankers away from the deal said requires pinpoint timing from borrowers.

Barclays’ head of global finance solutions has quit in a move to the buyside.

Resorts World Las Vegas (RWLV), a subsidiary of Malaysia’s Genting Berhad, priced a larger-than-expected $1bn bond on Tuesday, at a level that was more aggressive than market participants had anticipated.

Barclays’ head of financial institutions bond syndicate for Europe, the Middle East and Africa has left the bank.

Art Mbanefo is stepping down as chief investment officer at Barclays International and is leaving the bank.