Barclays

On the same day BMW reopened the euro corporate bond market following the summer break, Daimler reopened the sterling market. On Wednesday, BMW decided to follow a similar path to Daimler for its own sterling deal, but could not achieve quite the same success.

The European Investment Bank printed flat to, if not through, its dollar curve on Wednesday, drawing a more than doubly subscribed book and immediately moving tighter in secondaries. That should bode well for other borrowers looking at the currency in the coming weeks, said SSA bankers.

The dollar market for public sector borrowers is set to welcome the return of one of its biggest issuers, as deal flow restarted after Monday’s US Labor Day holiday.

Italian gas distributor 2i Rete Gas has dared to test the corporate bond market’s appetite for issuers from the country with a seven year trade. With its government budget on the horizon, some market participants said this deal could make or break the market for Italian issuance in 2018.

South African precious metals mining company Sibanye Stillwater has launched a tender process to repurchase some of its high yield and convertible bonds.

Barclays has created two new roles to bolster its coverage on green and socially responsible products.

First Abu Dhabi Bank (FAB) has updated its $15bn EMTN programme, prompting some investors to prepare for a transaction from the Middle Eastern bank — though syndicate bankers are less convinced.

The leveraged loan pipeline for September coughed into life this week, as AkzoNobel Specialty Chemicals unveiled the first jumbo deal of the week, a €5bn loan to support its buyout by Carlyle and Singaporean government fund GIC.

Overwhelming support for Aluminum Corporation of China’s (Chalco) $400m three year bullet bond allowed the issuer to price through its parent company’s curve on Thursday.

Growing fears that the UK could crash out of the EU without a deal are starting to weigh heavily on UK banks. The country’s most prominent issuers are finding it harder to drum up support for their bond deals, as investors find plenty of alternatives elsewhere. Tyler Davies reports.

Talk of the UK leaving the EU without a deal has given investors one more reason to shy away from supporting bond deals from the country's banks, during a busy period for new issuance.

Ireland’s Cairn Homes has agreed a €350m debt package from four institutions, with the homebuilder managing to lock in cheaper funding costs than the loans being refinanced.