Barclays

Ineos, the Anglo-Swiss chemicals manufacturer, cut costs on its term loans for the second time this year on Tuesday, after S&P joined Moody's in upgrading the rating of the new facility on Monday.

Euro corporate bond issuance was much cooler on Tuesday after Monday’s fireworks. “Maybe everybody parties on day one and is a bit hung over on day two,” mused one syndicate banker.

Wind Tre, the Italian telecoms company, issued its €7.3bn senior secured bond deal on Tuesday, a day ahead of schedule, and priced all four tranches at the tight end of guidance.

The European Stability Mechanism (ESM) brought its long awaited inaugural dollar transaction to market on Tuesday during a period of feverish activity in a dollar market that is “going from strength to strength”, according to one SSA banker.

Shares in Bawag, the Austrian banking group, closed below their offer price on Wednesday after the company priced its €1.68bn IPO at €48 a share, near the bottom of the initial €47 to €52 range.

Has Europe’s corporate bond market ever been hotter than today? Perhaps, but Monday’s four investment grade deals totalling €7.4bn offered ample evidence of extraordinary demand — not least, what is believed to be the most tightly priced corporate hybrid capital issue ever, for Danone.

One of the biggest IPOs in London this year was revealed on Monday when Arqiva, the UK’s largest operator of TV and radio broadcast towers, launched an IPO with a projected valuation of about £5.5bn.

NRW.Bank is set to return to the sterling market on Tuesday, coming on the heels of a tap from the Council of Europe Development Bank.

Bank of Jinzhou Co raised $1.496bn from its first additional tier one transaction on Friday, following the trend of other Chinese banks by selling a quick and dirty deal on the back of onshore investors.

uarantor: Federal Republic of Germany

With asset prices inflated to levels that would have seemed impossible a few years ago, capital market participants are looking forward to the European Central Bank’s (ECB’s) eventual exit from its quantitative easing (QE) programme with a mix of hope and dread, writes Lewis McLellan.

WM Housing followed the successful path of its fellow UK housing association, Notting Hill Housing Trust, when it announced a copycat benchmark sterling 31 year bond on Friday.