Barclays

Swiss food and drinks company Nestlé extended and replaced €11bn worth of one and five year loans on Wednesday.

The European Investment Bank shrugged off any concerns over the divisions between the governments of Spain and Catalonia and the skinny spreads on offer, printing $3bn at one of the tightest spreads of the year.

After a successful two week investor education process, Bawag, the Austrian bank, has unveiled the terms for its IPO on the Vienna Stock Exchange, which could value it at up to €5.2bn if it is priced at the top of the range.

Frequent issuer Tewoo Group is readying a comeback to the offshore bond market. It has mandated firms to arrange a roadshow at the end of the week.

Buoyed by low volatility, record high share prices, and a risk-on attitude among investors, Europe’s booming market for IPOs gained three more deals on Tuesday when Bakkavor, HelloFresh and M7 Multi-Let Reit all announced their intentions to float.

The European Investment Bank (EIB) and the German State of North Rhein-Westphalia (Land NRW) have picked banks for dollar benchmarks expected to hit the market on Wednesday.

Both the European Financial Stability Facility (EFSF) and Dexia Crédit Local were able to take advantage of a strong market and cut 3bp from the spreads paid on their euro benchmarks on Tuesday.

Italian gas utility Snam repeated the new issue-and-tender strategy it used in 2016 as it printed its third ever 10 year bond on Tuesday. The company was not able to replicate the zero new issue premium it achieved 12 months ago, but did still price at a very tight spread.

FMS Wertmanagement has announced that it will come to market for a sterling bond on Tuesday, hoping to follow Export Development Canada’s success last week.

The European Financial Stability Facility (EFSF) will launch its fourth quarter issuance programme with a new six year benchmark, sharing investors’ screens with a 10 year deal from Dexia.

On Monday, Statnett, the Norwegian state electricity grid company, mandated banks for its debut benchmark bond issue in euros. This followed German power utility RWE announcing the results of its recent tender offer on Friday.

A Japanese agency has pipped a Nordic one to the post in a tightly-fought race for the top dollar scores on BondMarker in the third quarter. Just 0.2 marks separate the top three scored dollar prints.