Barclays

Equity investment group China Jianyin Investment (JIC) is readying an international bond offering, mandating banks ahead of investor meetings.

Guotai Junan International Holdings launched a 364-day dollar bond on Monday, the issuer’s first public offshore debt offering in more than three years.

Flexible investors are returning small amounts of money into prime funds after the mass exodus experienced following money fund reform, according to a Moody’s report. However, a managing director at Barclays believes this is not yet a significant trend.

On Thursday, tobacco company Philip Morris sold a $2bn triple-tranche bond deal. On Friday, it was in Europe selling a €1bn dual-tranche transaction, taking advantage of the demand for longer tenors.

Public sector borrowers are preparing a flood of dollar issuance, said bankers, after a week with just one benchmark in the currency. The lack of deals this week was down to several factors, including the anticipated naming of a new US Federal Reserve chair on Thursday.

Dollar corporate bond supply kicked off November on a quiet note after the the Federal Reserve’s two day meeting kept borrowers on the sidelines following a frantic start to the week when spreads continued to tighten and cash poured into the high-grade market.

Housing & Care 21, a provider of housing and care services for elderly people in the UK, made a successful corporate bond debut on Wednesday when it sold a £250m 30 year deal that grew its sector’s presence in the sterling market.

Rating: Aa3/AA-/AA-

NGA UK, the provider of human resources software, launched a €300m loan on Wednesday, which it will be hoping appeals to CLO managers that have been eager for new money deals.

South American development bank Corporación Andina de Fomento (CAF) returned to the dollar market this week with a $1bn five year fixed-rate note.

Lloyds opened books on Tuesday on its first callable senior bond transactions for the minimum requirement for own funds and eligible liabilities (MREL) on Tuesday, following Santander UK into the dollar market as banks start to think about pre-funding for 2018.

Barclays, under Jes Staley, has been getting its swagger back. First came a swathe of management hires from JP Morgan, then top performing MDs all over the markets business. Now there’s the balance sheet to back it up — along with questions about whether the FICC business really can pay its way.