Barclays

On Thursday, the sterling corporate bond market reminded participants it was still going strong after the euro market had dominated the first half of the week. Petroleos Mexicanos, also known as Pemex, and Western Power Distribution followed the success of Wednesday’s deal from Manchester Airport.

The European Investment Bank (EIB) tapped South African rand twice this week, amid rising yields in the currency. Elsewhere, the International Finance Corporation (IFC) and World Bank both sold three lots of offshore renminbi, and Nordic Investment Bank (NIB) returned to Hong Kong dollars.

The Republic of Croatia is embarking on a roadshow to market its longest euro denominated Reg S bond.

QBE was looking to sell a new additional tier one (AT1) within the terms of its gender equality bond framework on Thursday, becoming the first financial institution to market hybrid capital as a social bond.

Thailand’s Siam Commercial Bank is courting investors for a dollar bond, to be sold through its Cayman Islands branch, while China Minsheng Banking Corp is also marketing a transaction through its Hong Kong arm.

The SSA dollar juggernaut is set to roll into a third day, with two deals on screens for Thursday’s business. Investor appetite shows no sign of letting up, as the two deals priced on Wednesday drew large books — as was seen with a host of trades a day earlier.

M7 Multi-Let Reit has cut its London IPO in half and extended the subscription period by more than two weeks, having failed to find enough demand so far.

Manchester Airport Group announced itself in the sterling corporate bond market with two deals in two months in 2014. It returned to the market on Wednesday with a print tighter than its two better known rivals.

There are now only a handful of live IPOs left in the market from this season’s crop, after several deals have been pulled. HelloFresh, EN+, SMCP and Aedas Homes have all traded badly in the aftermarket and just one new deal has been launched this week.

Public sector borrowers have crammed more dollar deals into Tuesday than are sometimes seen in a week. But far from suffering from too much choice, investors gobbled up everything on offer — and bankers expect them to do just the same for two deals on Wednesday’s menu.

The European Financial Stability Facility rounded off its funding programme for the year with a pair of taps on Tuesday with a deal praised as “an impressive result”.

Hong Kong-based Far East Consortium International (FEC) and Chinese securities house Guotai Junan International Holdings both sold unrated bonds on Monday. While neither issuer saw overwhelming demand, they still managed to walk away with their desired $150m and $300m, respectively.